FCPO Trade - 19 Oct'20
- There was a nice setup where we can see few downbars with increasing vol. We have SO bar on VSI vol. at 14:51. The next bar is a small body with low vol.
- Set a Buy Stop (middle of the trading range) and Sell Stop (just below the Support).
- Price hit Buy Stop. Follow the trade with Target Profit set.
- I did not use Stop Loss in place; instead I use my Sell Stop so that if the price decided to go the other way, it will close 1 Long contract and activate 1 Short contract (this is for advance method; for newbies, stick to Stop Loss).
Note: On the Stop Loss, why I wanted to put "-1" (before the my Target Profit got hit) was because that is the breakeven point should the market decided to go against my favor. As the market goes higher, I can raise my SL as well i.e. "-3" or "-5" and so on.
- Set a Buy Stop (middle of the trading range) and Sell Stop (just below the Support).
- Price hit Buy Stop. Follow the trade with Target Profit set.
- I did not use Stop Loss in place; instead I use my Sell Stop so that if the price decided to go the other way, it will close 1 Long contract and activate 1 Short contract (this is for advance method; for newbies, stick to Stop Loss).
Note: On the Stop Loss, why I wanted to put "-1" (before the my Target Profit got hit) was because that is the breakeven point should the market decided to go against my favor. As the market goes higher, I can raise my SL as well i.e. "-3" or "-5" and so on.
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