( did not tp n B.E) week22 GBPCAD with trend bullflag “A Grade” trade

Did a good trade although the entry could have been better. Position size wise was not big as followed rules to manage $$ risk.


In this setup the 5 week trend was a strong consideration as week to week it was up.
I looked into the h1 for a lower timeframe bullflag.
The bottom was flattish and did not suggest of a wash n rinse, hence that was a reason for me to reduce my position size.
However , what gave the conviction was that

1) Price bounced thrice form a round number support of 1.9000.
2) This formed a double bottom of sorts with macd divergence.
3) this level also confluenced nice with 2007 52weeks low.

As the overall d2d momentum was good, I entered 1 position on break of bullflag trendline.

week22 GBPCAD h1 1234 h4t with macd divergence 260515


a bullish day expansion was registered. I shifted to breakeven and have set the TP to ~1.92.

week22 GBPCAD h1 1234 bullish expansion day 270515

updated 300515

this was a good entry with good setup. Unfortunately I did not earn eventually as price hit BE and I did not tp earlier on.

week22 GBPCAD h1 1234 good entry poor exit BE 300515


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