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
Can you explain more detail about tenkan-kijun convergence and divergence, please?
ReplyDeleteSorry, do you can speak Melayu?
By the way, this trade result is not bad.
Tenkan-sen-kijun-sen convergence means both the lines are moving towards close to each other, which also reflects the price action maybe in the consolidating range.
ReplyDeleteDuring the divergence on the two lines, it reflects volatile movement in the price action itself.
No, I dun speak melayu.
Thanks for your explaination, that's all I need to know. Have a nice day! :)
ReplyDelete