daria.smk
Short

short on re-test 8200

FX:AUDUSD   Australian Dollar / U.S. Dollar
If will be not GAP UP to 8200+ on open stock 12 jan 2015 / i will be short ;
very strong ressitance 8200
entry 2 limit orders
risk reward 1:6
Hi, personally, depending on the position I'm taking I take Two ATR readings from my entry

Eg

ATR reading on a 1H chart is 10 pips, my stop must be 20 pips minimum above entry and also be higher than any previous spike highs/lows to give price enough breathing space if it were to retest any previous structure

Hope this helps

Ric
Reply
Hi, would you not say that your stop is a little bit to tight in comparison with the highs of the candle on the 31/12/2014 at 01:00?

The highs of that candle were 0.8213's and your stop is the same level?
Reply
daria.smk SmartTradingFX
Ohh I'm sorry ,uncorrect formed graphical position ,of course stop loss must stay for extremum 0,8213 . i suppose 0,8218-8220 optimal :)))
What is your opinion about this ?
Reply
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