EDIT: The image that is to small to see says the following: Price:0.92792 - S/L 0.92713 - T/P 0.92940. So the red line from the top is the entry point 0.92792 and the bottom red line is the S/L 0.92713
EDIT2: So I just saw that I wrote that the stop loss was not reached but I meant Entry Point! I now understad why I got the answers I got =p
I can understand if your top line is the stop level kick out due to spreads
but
like Saeed mentioned, the candle obviously poked your bottom line lols.
The spread takes the candle low further than what you see on the chart…when you set your stop losses give yourself a 5 to 7 pip cushion depending on the pair your trading and use odd numbers instead of even numbers when you set it. This may cause some problems if your scalping but if your scalping it would be better since your on top of the trade to just know where your stop losses are and make sure you stick to your guns when the candle reaches or breaches that area.
@FOREXunlimited: Unless I’m seeing this completely wrong (it’s possible ) , I went long, and so the price had to reach the top red line before I entered the market given the values I introduced in MT4. The problem I’m having is that I don’t see the top line being reached.
Can you be explain why did I entered the market under these conditions? I’m feeling a bit lost here…
Thank you!
EDIT: So I realized my OP mentioned that the stop loss wasn’t reached but I meant the entry point wasn’t reached. Sorry for the confusion.
You opened a long position, a long position is opened on the Ask Price. In your chart, Bid Price is not reached the top line but the Ask Price seems to be there because Ask Price is always some pips higher than the Bid Price depending on your broker spreads.
You should include Ask Price in your chart to avoid confusion. If you are using MT4 so here you go:
“Right click” on your chart and select “Properties”. Then select the “Common” tab. Now click on the box “Show Ask line”.
) , I went long, and so the price had to reach the top red line before I entered the market given the values I introduced in MT4. The problem I’m having is that I don’t see the top line being reached.