EURGBP Long - 17 Feb 2017 (Entered on 16 Feb 2017):

Background:
- Bullish morning star formation formed at 200MA support with bullish divergence

Entry:
- Buy stop set at 20 pips above morning star formation @ 0.8530
(set up trigger on 16 Feb 2017)

SL:
- Set at 38.2 fib level for the formation @ 0.8475

PT:
- Set at area which we keep seeing bearish shooting star @ 0.8688

Notes:
- Recently been losing quite alot of trade relating to GBP... probably due to the brexit factor.... something to learn for this to modify my future trade strategy.

Zlecenie aktywne:

Updates - 18 Feb 2017:
- The last day of the trading week has the price went up but closed at the lower half after testing the 50MA resistance
- I will continue to hold on to this trade given the set up is still valid

Transakcja zakończona: osiągnięto poziom stop:

Updates - 25 Feb 2017:
- Trade stopped out
- Bull halted after testing 50MA resistance

Lesson learned:
- Exponential MA does paint a different picture compare to simple MA.
- Should evaluate both to determine which is more reliable..... in this case exponential only indicates a bull signal now....
- I would look to long this in the following week