Marenno
Short

EURUSD Short Entries review

FX:EURUSD   Euro Fx/U.S. Dollar
The Pair is stuck around 1M support Area, to continue it's down movement, some fundamental kick is needed, which is possible today at 10:00 GMT

Sell Stop at 1.0550
Stop Loss above 1.0625
1st Target at 1.0475
2nd target at 1.0325

Stop Loss must not be more than ATR*3 (my subjective opinion)
In case if the current set up doesn’t let me to place a stop loss of this size, I will Use Limit orders. If the Stop loss is triggered, and the price is still going in chosen direction, I prefer not to lose a trade, and re-entering the position, with a short stop loss.
I suggest to use a “timing” stop (Close if the price will not go in your direction within 3 bars (as an example), all depends on your trading strategy), Sometimes I prefer not to wait till my SL is hit.
P.S. Using a small stop losses in my strategy makes them triggered quite often, however, it saves my account from wide drawdowns, and keeps my RRR             positive.
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http://marenno.com/index.php/how-to-use-volume-and-open-interest-option-levels/

Counting:
http://marenno.com/index.php/counting-option-levels/

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