TAS
Long

GBPCAD waiting on the finish of wave C to enter wave 5

FX:GBPCAD   British Pound / Canadian Dollar
167 5 13
Price is on a correction. Waiting on that correction to finish to go long.
Trade closed: target reached: Closing short and waiting to trigger long.
Trade active: Going long
Hey TAS. Sorry another question. Where there is a nice initial move do you tighten the stop at all?
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TAS AngusStewart
Hey, ask anytime. Stop placement was a big struggle. I used to move it to breakeven and ended up realising that I got stopped manytimes even though I got the movement right. I now set the trade and leave it. I'm usually conservative on the TP, usually at 127% extension. I may move the stop to break even if I feel news will kick me out but usually I don't move it, I set it and forget it.
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Hey TAS. what price / signal are you looking for to get long for wave 5? Thanks for sharing your charts.
Reply
TAS AngusStewart
I have my order at 1.8925 with stop at 1.8810. This is a large stop so manage your position. The trigger is high so that even if it's not triggered during my night, if it wants to continue down, has space to move at London open without trigger me in.
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Thank you.
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