This is a beautiful example of how to move up your stop loss
You see an 12345 structure in this photo
I started this trade at the bottom of wave 2 and my stop loss was place below the bottom of wave one
when we started buy i waiting on the first correction and moved my stop loss at the bottom of wave 4
once price started running i started moving the stop little by little until we reach the top of the wave
at the top of the wave I would usually take any other profits besides the original
I would move the original position below wave 4 or below 38.2% fib
however i closed out of this position because I am expecting a bigger correction
this is just a nice example with perfect execution i know some that count the pips and thats how they move their stops but this is just an example you can use as your own or tweak to your liking
You see an 12345 structure in this photo
I started this trade at the bottom of wave 2 and my stop loss was place below the bottom of wave one
when we started buy i waiting on the first correction and moved my stop loss at the bottom of wave 4
once price started running i started moving the stop little by little until we reach the top of the wave
at the top of the wave I would usually take any other profits besides the original
I would move the original position below wave 4 or below 38.2% fib
however i closed out of this position because I am expecting a bigger correction
this is just a nice example with perfect execution i know some that count the pips and thats how they move their stops but this is just an example you can use as your own or tweak to your liking