Watching an overall channel in the price action, and still waiting for the bottom entry in the linked idea, just also placing a sell limit with the same price outline.
Assuming pattern will continue and keeping orders on the line, the sell however will continue a bit further as the channel is a downtrend.
Using double orders, with one set for slightly more than 1:1, second target on the channel trend line as price moves along. Once the first is hit, stop is moved to breakeven.
On paper this math makes sense to protect against a losing streak trying for larger targets, and at least giving 1r from being right initially as price moves then retraces before the target, which is commonplace over 4r, but I like those 😂 don't need very many
Assuming pattern will continue and keeping orders on the line, the sell however will continue a bit further as the channel is a downtrend.
Using double orders, with one set for slightly more than 1:1, second target on the channel trend line as price moves along. Once the first is hit, stop is moved to breakeven.
On paper this math makes sense to protect against a losing streak trying for larger targets, and at least giving 1r from being right initially as price moves then retraces before the target, which is commonplace over 4r, but I like those 😂 don't need very many
Comment:
Removing the orders for the weekend, no need to be possibly tagged by spread ending the day, will replace on Monday
Order cancelled:
Orders not put back in as price has dropped away, and showing signs of reversal so idea is invalid
