FX:SPX500   S&P 500 index of US listed shares
37 3 2
Sold again and pending buy orders with SL just above the pivot .
Trade active
Comment: SL adjusted just above this candle
The cloud is very thin here, so there is a possibility that it will go through and form another pivot there, so there we will do another setup, liquidating the shorts.
could you kindly explain your method ??
Vytasbcn TAJIR_B
I have learned this setup from Ichimoku Trader. When you see the CS emerging from the cloud and form a pivot, because there the price may go both ways. The higher the TF, the stronger the response, So it is best to get the positions to the opposite direction for the pullback and place stop loss and reverse orders with SL just few pips behind just in case you are wrong (in that case you loose few pips on your orders, but you gain a lot, because then the price continues its path). so we liquidate the bought positions on the pivot once we see that the reversal formed and we are going back to the original direction and then we buy the orders in that direction without the need of those conditional orders. I hope I managed to explain myself. In this case, I sold the positions as high as I could and placed the reverse orders to buy just above the top and with SL. Now I just sit and wait until my positions go back amd make a reversal and then I will liquidate them and will buy longs then. That is the plan.
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