Long off Long term Daily Trend Line
Updated
EURAUDLooking to enter long position on five minute chart after price retest the 1.46100 area.
Entry @ 1.46100
Initial Stop @ 1.44626 (Trailing at 10 pip intervals)
Target @ 1.48920 (Once it hits this level stop will be moved to previous or current candles low)
As always feedback, comments and criticism always welcome
Trade active
Trade Entered @1.46109Trade closed: stop reached
Stopped out at 1.5712 for a 39pip loss :-(Note
re-entered trade on test of second daily trendline @ 1.45439 with stop placed below 1.45606 daily support.enter a second long order at 1.45234 on formation of double bottomvery close to daily support.
Closed out both trades for profi of 11.4 and 31.2 pips. Too bad Im'm only demo trading :-)
In reflection these to entries were much more logical position to enter over the trade I enter earlier at 1.46109.
Happy pipping.
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