STORJ USDTSTORJ Daily Time Frame
Storj is trading in a descending channel for approximately 228 days indicating a downtrend. The price has encountered significant resistance zones, currently trading near a key support zone (Yellow) between $0.3100 and $0.3269.
Observing the candlesticks, there are significant drops followed by consolidation phases. The recent candles show a sharp decline into the support zone (Yellow), suggesting a bearish momentum. This could potentially lead to either a stabilization and sideways movement within the support zone or further decline if the support fails.
If this support holds, there might be potential for a price to bounce back; however, a break below could signal further declines. The resistance zone (Green), positioned at $0.5750-$0.6082 and the next resistance zone (Blue) at$0.9072-$0.9494, are critical levels where the price could face sell-offs.
Traders should be vigilant, considering positions based on the support's reaction and entering a buy if it holds, targeting the nearest resistance zone. Always consider risk management strategies, especially with the current market volatility, and set stop-loss orders to protect against unforeseen price movements
Stoploss
Live Gold Trade Analysis: Catching the Breakout! Did I Miss It?Key Levels and Zones:
4hr LQZ (Liquidity Zone):
Marked at around 2437.909 - 2440.000.
This is a higher timeframe liquidity zone which often acts as a strong resistance or support level.
1hr TP 4 / LQZ:
Marked at 2419.433.
This level is a target point or liquidity zone on the 1-hour chart, indicating a significant level where price may react.
15M LQZ (Liquidity Zone):
Marked at 2404.619.
This is a key level on the 15-minute chart, suggesting an area where there is liquidity, and price may find support or resistance.
LQZ 1hr:
Marked at 2396.143.
Another liquidity zone on the 1-hour chart, which acts as an important support or resistance area.
Other Levels:
2390.821
2386.644
2379.627
Chart Patterns and Movements:
The price has shown a significant rise recently, breaking through multiple levels of resistance.
There is a noticeable ascending channel marked with blue dashed lines, indicating an overall uptrend on this timeframe.
The highlighted blue zone around 2390.821 - 2396.143 indicates a previous consolidation or support area that has now been broken through.
The most recent price action shows a pullback after hitting the 1hr TP 4 / LQZ level at 2419.433.
Key Observations:
The price is currently hovering around the 15M LQZ at 2404.619, which could act as immediate support.
The significant rise and sharp move up might indicate a bullish momentum in the short term.
The break above the blue highlighted zone suggests that the price might find support here if it pulls back.
Potential Trading Strategies:
Bullish Scenario:
If the price holds above the 15M LQZ at 2404.619, consider looking for buying opportunities with targets at higher liquidity zones such as 2419.433 and beyond.
A break above 2419.433 could further validate the uptrend, aiming for the next liquidity zones.
Bearish Scenario:
If the price fails to hold above 2404.619 and breaks below, consider looking for selling opportunities targeting the next support levels at 2396.143, 2390.821, and lower.
Range Trading:
If the price consolidates between 2404.619 and 2419.433, consider trading within this range, buying near support and selling near resistance.
BNB/USDT Short-TermHello everyone, I invite you to a quick review of the BNB to USDT chart, taking into account the one-hour interval.
Taking into account the short time interval, we will first determine possible stop losses:
SL1: $501,
SL2: $487,
SL3: $477,
SL4: $464.
Looking the other way, we will determine the closest to the targets:
T1: $517,
T2: $530,
T3: $547.
The RSI indicator shows a rebound, but there is still more room for a decline than for the current upward movement.
USD/JPY - Bullish Trend ContinuationThis morning, the focus is on the Dollar-Yen pair. The bullish trend is evident across all timeframes. Yesterday, we observed a strong break of the reversal structure at 161.269 after reaching a momentum high of 161.95. This break is crucial for the continuation of the bullish trend. Following the break, a bullish pattern has formed, and the price has moved into the Fibonacci buy zones of the initial move. Given this setup, the high probability action is to buy or do nothing above 161.57.
Stop Loss: 161.14
Target 1: 162.35
Always think in probabilities.
GBPUSD - Strong Rally Above 1.2675The GBPUSD has traded above the Weekly Key Price of 1.2675, establishing an uptrend in the 15-minute timeframe. Although the weekly, daily, 4-hour, and 1-hour timeframes are bearish, we focus on trading what we observe in the current timeframe. With the price trading above 1.2675 and a bullish wave structure, our action is to either buy or remain on the sidelines as long as the price stays above this key level.
Buy Entry: 1.2385
Technical Stop Loss: 1.2665
Key Level Stop: Below 1.2675
Always think in probabilities.
Conservative Investment Trend Trade HD LongMonthly Trend Trade
" + long impulse
+ 1/2 correction"
Daily Conservative Trend trade
"+ long impulse
+ 1/2 correction
+ ICE level
+ support level
+ biggest volume Sp"
Calculated affordable virtual stop loss
1 to 2 R/R take profit
Broker set up:
May-20-2024
Buy HD at Market (Day)
May-20-2024
OCO 3A: Sell HD Stop at $332.37 Limit at $337.86 (Good 'til Canceled)
May-20-2024
OCO 3B: Sell HD Limit at $348.84 (Good 'til Canceled)
BNB/USDT 4HInterval Chart ReviewHello everyone, let's take a look at the 4H BNB to USDT chart as we can see that we are getting close to trying to break out of the triangle.
Let's start by setting goals for the near future that we can include:
T1 = $600
T2 = $608.50
T3 = $614.50
T4 = $621
AND
T5 = $643.50
Now let's move on to the stop-loss in case of further market declines:
SL1 = $595
SL2 = $583
SL3 = $573.50
AND
SL4 = $563
When we look at the EMA Cross 50 and 200 indicator, we will see the yellow ema cross 50 line staying above the blue ema cross 200 line, which confirms that the uptrend is continuing.
Trading Psychology: How to trade economic data.As traders, one of the biggest challenges we face is deciding what factors to consider when opening a trade: should we base ourselves on charts, news, macroeconomic data?
Many opt for a combination of all these elements, and although all traders go through the same stages, there are different routes to success. The problem with following the crowd is that you end up doing exactly what everyone else is doing.
The solution: forge your own path, with all the challenges this entails.
Most traders follow the news, analyze the data and then compare them with the charts to try to determine the best entry point. And as if that were not enough, they often seek the opinion of other online traders to confirm their decision. However, consulting the opinions of others can be counterproductive, as they can alter, for better or worse, any personal opinion about the analysis we are conducting.
We always tend to think that others know more than us and that if they think differently, it must be for some reason and that we will not be the ones who are right.
This is just another example of market psychology and the human tendency to always follow the crowd, regardless of whether it is right or not.
I believe that in order to make a living from trading, research must start with yourself, it is essential. And this is necessary to confirm or refute the information with which the market bombards us every minute.
You need very intense training and experience to make a living from trading.
How many traders trade intraday based on economic calendar data? How many really make money? It’s not worth it.
Aware of the multitude of traders who congregate around the platform at key times, market makers have all kinds of tricks. Their favorite; the sweep. Up, down and both sides at the same time.
Is a mental stop better? In my case, no. I don’t know how mentally strong you are, but the word says it all: mental-stop. When you expose yourself to letting the mind think, you are entering dangerous psychological terrain and it is very difficult, if you are losing, to close with discipline in each and every operation.
Notice that I say in each and every one, because with not respecting a single one and that the price does not return in that operation to the entry point, it will be your elimination as a trader.
Therefore, anything that can cause a loss is worth discarding.
Greed doesn’t let you, we know that with a data in favor of our position you can make a lot of money but if the data is contrary and also forms a gap, no one will save us. And let’s not talk about if you are leveraged. Being leveraged and having the position run against you is one of the hardest experiences a trader can have.
Seeing how your capital is destroyed at forced marches, how losses increase, how you are not able to close because you expect a recovery to do so is dramatic.
Realizing that first loss, which at first seemed big to you and now doesn’t seem so much. You would “kill” to lose only that.
Then, once you are losing a lot you will no longer be able to close. There comes a time when you assume it and let the losses run as far as they go. You have accepted it. You risk the account in the hope of recovering.
This means hours of waiting for the desired recovery. In addition, the market is very rogue. After the fall comes the rebound, usually up to half. You get the idea that it is going to recover completely and instead of closing you hold on to see if the moment comes when you no longer lose anything.
The market will make you believe that this is going to happen. You may even average (add more positions) so that the recovery is faster and by the way, if the price goes beyond where you have opened the first operation, you even come out with profits.
But, as I say, the market is very cruel and when you start to dream and have hope again, it turns around and falls with even more force if possible, crushing your account and destroying your morale.
The result we all know. If the account does not have enough capital to withstand the bleeding, margin call will “come to see us”. And if it does, it will take you days, weeks, months or even years to recover your capital, if you do. Days, weeks, months and even years without liquidity to do what you like the most, trading.
In view of this, stoploss, as well as avoiding any situation that makes you lose is more than justified.
Mastering Risk: Stop Loss in TradingTypes of Stop Loss
Money Stop
Definition: A trader sets a fixed amount they are willing to lose on a trade, for example, £20.
Issue: This approach often leads to larger losses because it doesn’t align with market movements.
Advice: Avoid using the money stop.
Time Stop
Definition: Used mainly by scalpers, this involves closing a trade if it doesn't move in the expected direction within a set time frame (e.g., 4-8 bars).
Key Point: It requires discipline to adhere to the set time limit.
Advice: Suitable for scalpers.
Technical Stop Loss
Definition: Based on price movements and market structure, this is the most effective stop loss for technical traders.
Types:
Initial Stop Loss: Set at the entry of a new position, usually at a momentum high or low. The trade remains valid as long as the price doesn't reach this point.
Technical Trailing Stop: Used to protect gains on a winning trade. As the price moves in your favor, adjust the stop to a new structure point that, if reached, invalidates the trade.
Will BNB maintain current resistance?Hello everyone, let's look at the 4H BNB to USDT chart, in this situation we can see how the price is moving in a sideways trend channel, staying below the local downtrend line.
Let's start by setting goals for the near future that we can include:
T1 = USD 579.2 at which the price struggles
T2 = $605.9
T3 = $623.6
AND
T4 = $648.3
Now let's move on to the stop-loss in case of further market declines:
SL1 = $570.1
SL2 = $539.4
SL3 = $518.2
AND
SL4 = $491.50
Looking at the RSI indicator, we can see that there is still room for price movement down, but when we look at the STOCH indicator, we can see that it has returned to the lower border of the channel, which may slow down the price decline.
DOT/USDT 4HIntervalHello everyone, let's look at the 4H DOT to USDT chart, as you can see the price is moving in a sideways trend channel where it is holding at the upper part of the range.
Let's start by setting goals for the near future that we can include:
T1 = $7.51
T2 = $7.92
T3 = $8.40
AND
T4 = $9.08
Now let's move on to the stop loss in case of further market declines:
SL1 = $6.82
SL2 = $6.45
SL3 = $6.19
AND
SL4 = $5.85
The RSI indicator shows how we have bounced off the trend line, while the STOCH indicator remains at the upper limit, which may also indicate an attempt at price recovery.
Trailing Stop Loss: Maximizing Gains while Managing RisksIn the dynamic world of financial markets, where assets sway in value like dancers on a stage, mastering the art of risk management is essential. Traders, akin to choreographers, must orchestrate a delicate balance between potential gains and potential losses. Among the many tools in their arsenal, the trailing Stop Loss stands out as a dynamic approach that adjusts to the rhythm of market fluctuations, ensuring that investors stay nimble in the face of uncertainty.
Understanding the Trailing Stop Loss
A trailing Stop Loss is not just a safety net; it's a strategic maneuver designed to protect profits and limit losses. Unlike its static counterpart, the traditional Stop Loss, which remains fixed below the current market price, the trailing Stop Loss moves dynamically in response to price movements, trailing behind like a faithful companion.
Here's how it works:
1.Setting the Initial Stop : When an investor enters a position, they establish an initial Stop Loss level, typically a percentage or a fixed amount below the purchase price.
2.Dynamic Adjustment: As the asset's price ascends, so does the trailing Stop Loss, maintaining a set distance below the peak price. This dynamic adjustment allows investors to capture profits as the market climbs while safeguarding against sudden downturns.
3. Locking in Profits: With each upward move in price, the trailing Stop Loss readjusts, effectively locking in gains. This feature enables traders to capitalize on favorable market conditions without constantly monitoring their positions.
4. Triggering the Stop: However, should the market reverse course and the price begins to descend, the trailing Stop Loss activates, executing a market order once it reaches the predefined distance from the peak. This mechanism shields investors from significant losses during market downturns.
In essence, the trailing Stop Loss serves as a flexible shield, adapting to market dynamics and allowing traders to navigate the ever-changing landscape with confidence.
Implementing a Trailing Stop Loss
Crafting an effective trailing Stop Loss strategy requires careful consideration and precision. Here's a step-by-step guide to setting up this dynamic risk management tool:
1. Choose a Reliable Platform: Select a reputable trading platform or broker that supports trailing Stop Loss orders, ensuring access to essential features and functionalities.
2. Select the Asset: Decide which asset you want to trade, whether it's stocks, cryptocurrencies, forex pairs, or other financial instruments.
3. Determine the Trailing Amount: Settle on an appropriate trailing amount, considering your risk tolerance and market conditions. This parameter dictates the distance between the current market price and the trailing Stop Loss level.
4. Place the Order: Access your chosen trading platform and locate the option to place a trailing Stop Loss order. Enter the necessary details, including the quantity, trailing amount, and any additional parameters.
5. Review and Confirm: Double-check all order details before confirming the trade, ensuring accuracy and alignment with your trading objectives.
6. Monitor and Adjust: Once the order is executed, monitor the market closely and be prepared to adjust your trailing Stop Loss level as needed. Stay informed about market trends and news events that may impact your positions.
By following these steps and remaining vigilant, traders can harness the power of trailing Stop Loss orders to optimize their risk management strategies and capitalize on market opportunities.
Navigating the Pitfalls
While trailing Stop Loss orders offer undeniable benefits, they are not without their challenges. Traders must be aware of potential pitfalls and exercise caution to avoid unnecessary losses:
1. Market Volatility: In times of heightened volatility, trailing Stop Loss orders may trigger prematurely, leading to suboptimal outcomes.
2. Whipsaw Movements: Rapid fluctuations in price can result in whipsaw movements, where the Stop Loss is activated only to see the market reverse direction shortly after.
3. Intraday Fluctuations: For intraday traders, frequent price swings within a single trading session may trigger multiple Stop Loss orders, eroding profits.
4. Overemphasis on Short-Term Movements: Relying too heavily on trailing Stop Loss orders may cause traders to overlook the long-term potential of an asset, focusing solely on short-term gains.
5. Technical Glitches: Despite advancements in technology, trading platforms are not immune to technical glitches, which could impact order execution and adjustment.
6. Psychological Impact: The frequent triggering of Stop Loss orders may induce stress and emotional decision-making, undermining the trader's confidence and discipline.
7. Risk of Missed Opportunities: A conservative trailing Stop Loss may protect against losses but could also result in missed opportunities for further gains if the market experiences temporary setbacks.
Trailing Stop Limit Versus Trailing Stop Loss
Trailing Stop Loss and Trailing Stop Limit are both order types utilized in trading to manage potential losses, yet they diverge in their execution methods. Here's a concise comparison:
Trailing Stop Loss
A Trailing Stop Loss order aims to curb losses by automatically adjusting the stop price as the market price moves favorably. As the market price rises, the stop price trails behind at a predetermined distance. If the market price falls, the stop price remains static. Upon reaching or surpassing the stop price, a market order is triggered to sell the asset.
Trailing Stop Limit
Trailing Stop Limit orders blend features of stop loss and limit orders. Like Trailing Stop Loss, the stop price adjusts as the market price moves favorably. However, instead of activating a market order upon reaching the stop price, a limit order is placed. This limit order sets the minimum price at which the asset should be sold. When the market price hits or exceeds the stop price, a limit order is triggered, and the asset is sold at the set limit price or better.
Key distinctions between Trailing Stop Loss and Trailing Stop Limit:
Order Type: Trailing Stop Loss executes a market order upon reaching the stop price, while Trailing Stop Limit initiates a limit order under the same condition.
Execution Certainty: Trailing Stop Loss ensures execution without specifying the exact selling price, whereas Trailing Stop Limit stipulates a specific price or better, with no guarantee of execution if the limit price isn't met.
Price Adjustment: Both orders automatically adjust the stop price in response to favorable market movements.
Flexibility: Trailing Stop Loss is straightforward and simpler in execution, while Trailing Stop Limit, though offering more control over the selling price, introduces complexity.
Considerations for choosing between Trailing Stop Loss and Trailing Stop Limit include factors like market conditions, asset liquidity, trading strategies, risk tolerance, and preferences regarding execution and price control.
Determining an Effective Trailing Stop Loss Percentage
Selecting the right trailing stop loss percentage involves evaluating various factors influencing a trader's decision-making process. There's no universally optimal percentage; it depends on individual preferences and market conditions.
Considerations include the asset's volatility, trader risk tolerance, market conditions, trading time frame, historical price movements, overall trading strategy, and how trailing stop loss percentages interact with other risk management tools.
Adapting the trailing stop loss percentage as the trade progresses allows for a dynamic response to evolving market dynamics and risk factors. The goal is to strike a balance between providing the trade enough room to develop and protecting against significant losses.
In conclusion
Implementing trailing stop loss emerges as a crucial strategy in trading, enabling traders to secure profits while mitigating losses and maintaining a delicate risk-reward balance. Continuous education and staying informed about market trends remain essential for traders to make informed decisions and navigate financial markets confidently.
SOLUSDT 1HInterval ChartHello everyone, let's look at the 1H SOL to USDT chart, as we can see the price has entered a sideways movement and is breaking sideways from the local downtrend line.
Let's start by setting goals for the near future that we can include:
T1 = $154
T2 = $162
T3 = $168
AND
T4 = $175
Now let's move on to the stop-loss in case of further market declines:
SL1 = $142
SL2 = $137
SL3 = $130
AND
SL4 = $112 - $105
When we look at the RSI indicator, we will see that we are bouncing off the downward trend line, but we can see that the lateral price movement results in an increase in the indicator, which may again translate into an attempt to drop the price.
New Premium Gold Idea #XAUUSD Gold is facing strong resistance and is likely to drop. Consider shorting gold at the current resistance level with a target price set at the nearest support level. Monitor price action and market sentiment closely for potential profit opportunities. Use proper risk management techniques and stay informed about economic data and geopolitical events.
Entry: 2325.70
SL: 2332.17
Target 1: 2320.28
target 2: 2317.77
#signal #daytrading #gold #xauusd #forex #pips
Like share and comment
Trade God out
Stop Loss Placement: Let Your Trade Cook!Intro
I tried to talk through stop-loss placement in 3 minutes here. I do not think justice was done. So let's take a look at exactly what I mean when I say "Let Your Trade Cook". Proper stop-loss placement is critical to a successful trading plan.
Don't Place Your Stop Like Everyone Else
You are guilty of this, if you have been stopped out many times just to see the price move immediately back in your favor. The picture below represents a bunch of pullbacks some long and some short and it has been color-coded to define entries combined with stop losses.
Blue = Entry
Black = Typical Stop
Orange = A Good Stop To Let Your Trade Cook
Red = An Aggressive Stop To Let The Trade Cook
Conclusion
Hopefully, the video along with this image provides you with a better system for discretionary stop losses. I tend to favor the idea that just above or below a momentum bar in the previous swing as my stop loss.
ETH is in a loss phase againHello everyone, let's look at the 4H ETH to USDT chart, you can see how the price is moving in a downtrend channel, from which exiting at the bottom could result in a strong downward movement in the height of the channel itself.
Let's start by setting goals for the near future that we can include:
T1 = $3,327
T2 = $3,622
T3 = $4,104
AND
T4 = $4863 LONG TERM
Now let's move on to the stop-loss in case of further market declines:
SL1 = $2,903
SL2 = $2580
SL3 = $2166
AND
SL3 = $2166
Looking at the RSI and STOCH indicators, we can see that there is still room to continue the current recovery.
HOW TO SET STOP LOSS | 3 SIMPLE STRATEGIES 📚
Hey traders,
In this post, we will discuss 3 classic trading strategies and stop placement rules .
I will teach you how to set a safe stop loss, relying on price action.
1️⃣The first trading strategy is a trend line strategy .
The technique implies buying/selling the touch of strong trend lines, expecting a strong bullish/bearish reaction from that.
If you are buying a trend line , you should identify the previous low.
Your stop loss should lie strictly below that.
Buying a test of arising trend line on GBPCHF, stop loss is lying strictly below the previous low.
If you are selling a trend line , you should identify the previous high .
Your stop loss should lie strictly above that.
2️⃣The second trading strategy is a breakout trading strategy .
The technique implies buying/selling the breakout of a structure,
expecting a further bullish/bearish continuation.
If you are buying a breakout of a resistance , you should identify the previous low . Your stop loss should lie strictly below that.
If you are selling a breakout of a support , you should identify the previous high. Your stop loss should lie strictly above that.
Selling a retest of a broken structure on AUDJPY, Stop Loss is strictly set above the previous high.
3️⃣The third trading strategy is a range trading strategy .
The technique implies buying/selling the boundaries of horizontal ranges , expecting bullish/bearish reaction from them.
If you are buying the support of the range , your stop loss should strictly lie below the lowest point of support.
Opening a long position from the support of the range on Dollar Index, stop loss is placed below its support.
If you are selling the resistance of the range , your stop loss should strictly lie above the highest point of resistance.
As you can see, these stop placement techniques are very simple. Following them, you will avoid a lot of stop hunts and manipulations.
How do you set stop loss?
STOP LOSS more important than you think!Set STOP-LOSS and stop your loss!
The Vital Role of Stop-Loss in Forex and Crypto Trading
In the fast-paced realms of forex and cryptocurrency trading, where market volatility is the norm, the integration of a stop-loss strategy holds paramount importance. A stop-loss order acts as a critical risk management tool, shielding traders from excessive losses and preventing impulsive decision-making in turbulent market conditions. However, its significance goes beyond risk mitigation; stop-loss orders also play a pivotal role in guiding traders towards selecting optimal entry points. Let's delve into why incorporating stop-loss orders into your trading approach is essential for achieving long-term success.
Fostering Discipline and Psychological Resilience
One of the primary rationales for the necessity of stop-loss lies in its capacity to nurture discipline and psychological resilience among traders. By establishing predetermined exit points, traders not only manage risk effectively but also cultivate a disciplined mindset crucial for navigating the complexities of financial markets. Adhering to stop-loss levels compels traders to conduct thorough analyses of entry points, thereby refining their decision-making processes. This disciplined approach not only mitigates the influence of emotional trading but also fosters rationality and consistency, pivotal attributes for sustainable trading success.
Empowering Effective Risk Management Practices
Effective risk management forms the bedrock of successful trading endeavors. Without the implementation of stop-loss mechanisms, traders expose themselves to the peril of unchecked losses, which could potentially erode their entire trading capital. Stop-loss orders serve as a bulwark against such scenarios, capping losses at predetermined levels. By calculating appropriate position sizes relative to stop-loss distances, traders ensure that each trade aligns with their risk tolerance and overarching trading strategy. Moreover, the process of setting stop-loss levels inherently prompts traders to meticulously assess entry points, reinforcing the importance of selecting optimal trade setups.
Optimizing Risk-Reward Dynamics
An often-overlooked aspect by novice traders is the critical importance of maintaining favorable risk-to-reward ratios. Trading without stop-loss not only compromises risk management but also distorts the risk-reward dynamics of each trade. Well-placed stop-loss orders enable traders to define risk upfront, enabling them to seek out trades with favorable risk-reward profiles. By aligning potential losses with anticipated gains, traders can pursue asymmetric returns, where profit potential outweighs risk undertaken. This strategic alignment not only enhances profitability but also instills confidence in traders, empowering them to execute trades with conviction.
Conclusion
In conclusion, the integration of stop-loss orders into your forex and crypto trading endeavors is indispensable for cultivating discipline, managing risk effectively, and optimizing profitability. Beyond serving as a risk management tool, stop-loss orders nurture psychological resilience, refine decision-making processes, and uphold the principles of disciplined trading. Moreover, stop-loss implementation inherently encourages traders to scrutinize entry points meticulously, reinforcing the importance of selecting optimal trade setups. Therefore, traders must recognize the pivotal role of stop-loss in safeguarding capital and fostering long-term success in the dynamic world of financial markets.
BNB/USDT 4HInterval Chart ReviewHello everyone, let's look at the 4H BNB to USDT chart as we can see that the price is moving below the local uptrend line.
Let's start by setting goals for the near future that we can include:
T1 = $586 at which the price is struggling to maintain
T2 = $615
T3 = $636
AND
T4 = $663
Now let's move on to the stop-loss in case of further market declines:
SL1 = $563
SL2 = $527
AND
SL3 = $503
Looking at the RSI indicator, it indicates a potential change in direction, but with room to make another upward move. However, on the STOCH indicator we are moving above the upper limit, which causes the growth to slow down and a possible recovery.
HOW TO SET *** TRAILING *** STOP LOSSES ON TRADINGVIEWThis one is a bit of a hack but follows on from my video on how to set STOP LOSSES on TradingView for Connected Brokers.
To set a TRAILLING STOP LOSS you need to open your broker account, set the trade there and it will then be reflected on the TradingView interface.
Basically a set and forget type approach.
HOW TO SET TAKE PROFIT AND STOP LOSSES ON CONNECTED BROKERSOne of the best features of TradingView is all the connected brokers and how you can not only place, but also move any take profit and stop losses around on the screen to match what you are seeing on your various indicators or support levels.
Video also covers a way to gracefully exit out of a trade bit by bit if you are already up a long way and want to protect your profit by selling a little bit at a time instead of the whole lot if the price starts coming down.
It's very cool.