Hello traders!
With this trade, we want to grab 40 pips between lines B and C. If you look a the
circle on the chart you can see price never reached line A, so the build up needed to
push the T2 level all the way to line C never happened. If you were in the T2 trade,
you would still be in it now cause the stop loss was not hit.
These trades can be taken with a sell stop order as a set and forget setup. There is no need to wait
for price to close, wicks excluded, below line B.
It`s recommended to position your stop no further away than 1:1 RR away from entry, although this
may vary with markets and volatility.
Best,
Jay
With this trade, we want to grab 40 pips between lines B and C. If you look a the
circle on the chart you can see price never reached line A, so the build up needed to
push the T2 level all the way to line C never happened. If you were in the T2 trade,
you would still be in it now cause the stop loss was not hit.
These trades can be taken with a sell stop order as a set and forget setup. There is no need to wait
for price to close, wicks excluded, below line B.
It`s recommended to position your stop no further away than 1:1 RR away from entry, although this
may vary with markets and volatility.
Best,
Jay
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.