Quote:
Originally Posted by cadarkitek
In this case my TP wil be 10 pips before the next support. Thats what I normally do. If I was planning to Short 2 lots I would only close 1 lot at that point. I will be looking to short again 30-50pips below that support, just as how I'm gonna short below that blue line I post in a previous thread.
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I'm beginning to see how this works .. you wait until a support level has been definitively broken so there is better odds of the downtrend (in this case) continuing. If it continues much below the 198 level, it just might go to test its prior lows of Mar 17, in which case the trip back up again would be a gift
What would signal you to exit this kind of trade .. say if it gets to 198.70 and just stalls .. do you watch volume/price action & on which timeframe. Do you have a trailing stop, mental or otherwise?