Guys if i went short here where should i place S/L in the black line or in the red line.
Hi, what did the reverse verification of this strategy show you? Regards Greg
hi ,broken of corrective structure and a retest
I don’t know about your trading logics but don’t use too tight SL, maybe above the nearest resistant level.
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Depends what strategy you’re trading. If you’re trading a trendline break and retest. Then your SL is the black line but actually it can be tighter right up to the trendline. If you’re trading break of prior lows then your SL should be at the prior high which is the red line.
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Where is your take profit? Have you done a risk reward calculation?
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Both are right, depends on your strategy and risk reward calculation
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Personally - neither.
I would place it at a pivot high. Above the green candle with the long wick, or the red candle with long wick.
To an extent this changes with the market traded and timeframe.
As I dont know either im calling it as i see it
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You need to calculate the risk reward ratio at first; you can’t take huge percentages of risk in a single position!
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Short-term resistance should be somewhere in the 1.96800 are because we see some good selling pressure coming from above.But I would also extend take profit to make risk-reward ratio according to my trading system.
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