Answer to Stage 1
It is pleasing to see that several readers are participating in this trade!!
As a retired school teacher, I can tell you that this is the best way to learn - by putting your neck on the line.
There is much more to be gained from active participation rather than just passive looking at the thread from home and not contributing.
Looking at the candle pattern shows that it is promising even with the long lower wick on the 3rd candle.
The BB is a problem though.
We have had a whole number of green candles walking the upper BB. There is only one other red candle and it has had no effect on the walk upwards.
The BB width has remained constant with the whole band system rising steadily.
There is nothing on the chart to indicate that the BB direction or width is going to change.
It is all up to the candle pattern.
At the time of trading I suspected that the price action, at best, would break and travel horizontal. A second pattern would be needed to send it down.
Even so, the pattern is good, and some downward price action could be expected.
So lets wait and see what happens.
So, for me, its the stop loss at the high risk position - 3 pips above the top of the "star".
That makes my stop loss 108.08+0.03 =
108.11
To be on the safe side, you could put every stop loss at the high risk position.
But I will show you a better way in the NEW TRADING METHOD to follow.
OK, lets go into the trade.
Linear Mode
