On the NZD.USD 1H chart we have a potential short opportunity at the D leg completion of a bearish Bat Setup.
The price reversal zone on this pair is between .7261 & .7295 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat Setup placed at the .382% and .618% retracement of the A to D move. There is also opportunity to look for extended targets at around .7016 Stop loss would be placed above X leg structure resistance.
Do you make a limit order before price reaches D or wait until you see the signal at D to sell? I can recognize patterns but do not know when to place a trade?
UnknownUnicorn180388
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Setting orders all depends on your personal circumstances.
If you struggle with the emotional side of getting into a trade then a limit order may be beneficial.
If however you prefer to see how price reacts in the zone you draw out, then its more beneficial to enter the trade manually.
Take into consideration if you work will you be near your computer, or if your trading for example the Asian session but live in London.
Although there are many factors you should consider once you have it in your plan, it is advised to stick with it.