The pair hit my fib resistance/channel resistance intersection and bounced back down.
I'm using a Sell stop as shown to take advantage of more channel movement for the pair uppon a break of my trend support (green) which would also coincide with the creation of a new low since the local peak.
R:R of position shown: 5
Comments
AlejandroDavish
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gracias amigo
forexmech
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Thanks Kyle. Nice setups BTW. Hope to see more from you
forexmech
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Is a limit order fine ?
QuileHills
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I'm using the stop order to confirm a bearish break of the trend support. A limit order runs the risk of entering on a bullish movement and stopping out quickly.