Why did I enter a buy @ 49.13 and why did I put my stop loss @ 47.13
1. On day 19th march the session ended up forming a doji, which is a clear sign that indicates a possible reversal in the trend. The doji forms its own resistance and support areas , which is indicated by its tails. This takes us to the second point,
2. The tail of doji formed a strong support area @47.13, which is the area that brought the price to it real body, this is a clear sign that if it have fallen there again, and broke it then the support was not strong enough to hold the new positive trend.
1. On day 19th march the session ended up forming a doji, which is a clear sign that indicates a possible reversal in the trend. The doji forms its own resistance and support areas , which is indicated by its tails. This takes us to the second point,
2. The tail of doji formed a strong support area @47.13, which is the area that brought the price to it real body, this is a clear sign that if it have fallen there again, and broke it then the support was not strong enough to hold the new positive trend.