DislikedAnyone,
Entry Long 155.08
st 154.71
tp1 155.41 (MA 8)
tp2 156.15 (ma 365)
Round bottom and Higher Low for a trend reversal signal on Macd.
Also a doji.
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Any input or analysis would be helpful. I am trying to understand the good trades and signals, so if I am way off here please help me.
Thanks,
NanetteIgnored
You can easily compare your entry with the recent failed reversal of the same pair. Let's see: MACD gives a long signal @156.32 which is close of the green candle. We enter at the next candle open which is 156.31. And then see the low of the same candle - 155.93 which is 40 pips down. History is near. We need to have an acute eye. There were some posted entries yesterday on this forum with the same pair and our crooked yen took them out. Anyway, I understand you are in. Please, stick to the trade plan.
On a positive note, your plan can be backed up by the fact that the price rests on the trendline. See the chart.
Yours, Tamkras
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