As you can see, I took an additional risk by not waiting for a confirmation for a DOJI candle.
I have set a cut loss level 4% below $1.7 and I am confident to say if it hits, it means that the trend has changed.
LONG
Entry Date: 11 Dec 09
Bought at $1.72
Exit Date: 17 Dec 09
Sold at $1.79
Trade ROI: +4.07%
Overall ROI: +194.82%
Why I trade?
- Higher high, higher low formed
- 50MA supported and looks like it's holding very well
- 20MA bullish crossed over
Takeaway:
I exited this trade due to the weakness of trend. If you have noticed the candlestick pattern, when 3 white candlestick is formed, the next candle will be black.
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