The fork has been tested (and re-tested on a lower time-frame). I am looking to get long at the lower median line parallel with a stop below the test and a price target of the median line. It has quite a nice risk/reward.
코멘트
wuweitrader
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stopped out.
Post trade analysis:
With the spike (two spikes) higher and close towards the lower end, I should have moved my stop to breakeven. Although structure was not broken (we didn't close below the lower median line parallel), volatility and slop was picking up. I.e., it was starting to get a bit too messy for this 'nice simple trade'.
Analysious
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I managed moved my stop to breakeven.
wuweitrader
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excellent, glad it worked out
Analysious
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Could you please explain your SL and TP... thanks
wuweitrader
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Sure. My stop loss is just below the previous bar that poked through the lower median line parallel. My actual stop-loss is at 101.65. My profit target is the median line. So draw a line straight up until it hits the middle line and that is my profit target. As time passes I will raise my target as it slopes upward.
Hope this helps.
Analysious
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Thanks Buddy...
wuweitrader
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No problem. The stop-placement must always be below some sort of structure or swing. I place mine below the low of the poke, which though not as good as being below the c-pivot (or a-pivot) was, for the type of trade, I felt good enough.
There are times that you say "How in the world did that happen?" According to my dealer, I missed getting stopped out by 1/2 a pip! So placing it correctly makes all the difference (in truth I might have still been 1-2 pips too close to the action).
Post trade analysis:
With the spike (two spikes) higher and close towards the lower end, I should have moved my stop to breakeven. Although structure was not broken (we didn't close below the lower median line parallel), volatility and slop was picking up. I.e., it was starting to get a bit too messy for this 'nice simple trade'.