EURGBP Long - 17 Feb 2017 (Entered on 16 Feb 2017):

17 de fev. de 2017

Background:
- Bullish morning star formation formed at 200MA support with bullish divergence

Entry:
- Buy stop set at 20 pips above morning star formation @ 0.8530
(set up trigger on 16 Feb 2017)

SL:
- Set at 38.2 fib level for the formation @ 0.8475

PT:
- Set at area which we keep seeing bearish shooting star @ 0.8688

Notes:
- Recently been losing quite alot of trade relating to GBP... probably due to the brexit factor.... something to learn for this to modify my future trade strategy.

18 de fev. de 2017

Trade ativo

Updates - 18 Feb 2017:
- The last day of the trading week has the price went up but closed at the lower half after testing the 50MA resistance
- I will continue to hold on to this trade given the set up is still valid

25 de fev. de 2017

Trade fechado: stop atingido

Updates - 25 Feb 2017:
- Trade stopped out
- Bull halted after testing 50MA resistance

Lesson learned:
- Exponential MA does paint a different picture compare to simple MA.
- Should evaluate both to determine which is more reliable..... in this case exponential only indicates a bull signal now....
- I would look to long this in the following week