stop loss take profit
Now let’s talk about how to use these levels for possible entries and exit points like stop loss. Going back to the bullish example, let’s say that you got an entry here on the level of support. You definitely want a stop loss below this level that would be 10% below your entry price in case your trade turns against you. In terms of take profit now you will set it somewhere around the highs where your resistance level is because you are expecting the trend to continue.
And that is how you use trend support and resistance levels in order to identify accurate trading opportunities and good risk reward ratios.
And that is how you use trend support and resistance levels in order to identify accurate trading opportunities and good risk reward ratios.
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