Here is my entry chart for this long trade due to a BUOB which closed above a horizontal level. Click chart to enlarge. Risk was 1% of the account.
and here is the exit chart. Once again I took profit early instead of letting it just hit the target, which it would have had I left it along. I made just under a 1% gain.
Analysis: The BUOB was not at a swing low so I don't think this was a perfect setup to begin with. I still took a long trade because it closed above a horizontal level and was much larger than the bar it engulfed. These days I enter on retraces of bars like these because for me it works much better. I'm not saying it's a better way, but it suits my personality. Trade management was okay but not great because like I said, I took profit too early. Still, just under a 1% gain is not a bad result at all so I'll take it.
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