I moved my stop to a price that was a 24 period ATR above the widest shooting star (dotted red line) last night before going to sleep and added the risk back into the trade. Note the smaller Bearish Engulfing that printed first. I did not think it was wide ranging enough to really be significant, so I did not place my stop above it. I've gone and moved my stop again after we got this second Bearish Engulfing accompanied by a nice thrust candle through the hourly level, it is now at the Engulfing High (red X). I added the risk back into the trade here too. We are pretty close to reaching for the stop losses of those who longed the Inside Day with stops at the low.
Note my additional entries are denoted by the dotted green lines. Might close out on Evolving R.
Note my additional entries are denoted by the dotted green lines. Might close out on Evolving R.
Trade closed manually:
Closed out manually so I have some discrepancy in closing price.
Avg Closing Price = 1.28186
Through adding we were able to turn a 0.76R trade into a 0.92R trade.
Avg Closing Price = 1.28186
Through adding we were able to turn a 0.76R trade into a 0.92R trade.