EURUSD Long Cypher

FX:EURUSD   Euro / U.S. Dollar
56 4 1
Long Cypher pattern on the 60M EURUSD             chart still trading near the entry point (though it was invalidated in the break below the X point)
Nice one. Even though it was invalidated doesn't mean you should get out of the trade. Where is your stop at?
For this one I had stops 10 pips below the X point. Hence if I didn't have limit orders in to pick it up on the move down I wouldn't have entered.
Ahmed-J JeffPohlmeyer
I like the 10 pips stop with this low volatility era. I personally put my stop beyond X by the ATR of the entry candle.
That's another methodology that I've played around with. As long as you're consistent either one should be okay.
+1 Reply
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