GBPJPY - Long from Double Bottom on 1H

Bullish Trend Continuation Trade.
Buy on pullback to 146.00 zone.
Trade triggered in kill zone.
RSI oversold 1H
Open 2 positions
P1 T1 40/40 1R
P2 T1 40*/114 (.618 retracement)
*move stop loss to breakeven when P1 target is met.

Zlecenie aktywne:

Updated

Komentarz:

More confirmation to stay long as of friday close and stay in trade over weekend.
falling wedge - go long
HNS on 1H, go long
bounce off of round number/support 146.00 go long.
bounce off of .500 Fib zone, go long.
bounce off of EMA 200 (1H) go long.
RSI oversold (1H) (41.5 as of friday close) go long.

Transakcja zakończona: osiągnięto poziom stop:

wow, stopped out due to such large spread on opening with Oanda.
And thats why I dont like keeping trades open over the weekend, if the gap doesnt get you, the crazy spreads will. :(
I will keep an eye on this pair and look for more opportunities this week.
Plan your trades - Trade your plan.

Komentarz:

hmm stopped me out 5 pips below my SL and 8 pips below the low of the candle wick. Must have been some crazy volatility on the open? I guess that is a good example of slippage.