TRADE
Entry Date: 14-Oct-2015
Entry: MKT BUY @ 1.5418
Reason for Trade/Setup:
Price action was already above the kumo cloud, and preceding action was a bounce from the top of the kumo cloud.Tenkan-sen, Kijun-sen and chikou span are all above the kumo cloud, showing strong bull interest, with the exception of tenkan-sen together with kijun-sen. The view is that the next move will be bullish.Stop loss is placed at below the kumo cloud.
Initial Stop: 1.5200, shifted to 1.5470
Initial Target: 1.6083
INTERMEDIATE COMMENT
Shifted stop to 1.5470, due to divergence between tenkan-sen and kijun-sen.
RESULT
+52 pips
THOUGHTS
Will have to see how the price unveils itself
The trade was stopped out yesterday at around 2340h. From the current assessment, tenkan-sen and kijun-sen are converging towards each other. There might be price consolidation in the periods ahead. Opportunity may arise again. Will review again.
kuraudotrader
