price action channel, Traders dynamic index, ADX
How to exit a trade when using Price action channel, TDI and ADX on a 15 minute chart.
I take a conservative approach you have possible made { did not exit the trade} 10 to 20 pips as all 3 indicators turn up on a 15 minute chart only be 10 pips from the bottom you need room to breath at first I set my stop loss 2 pips above the top channel as I make pips I lower it just follow the channel as you lower your stop loss, I don't think you have the time for a trailing stop loss its to volatile now in forex trading you have to be watching your trades!!! AT the point that your 15 pips profit time to set your stop loss that you made at 10 pips I know you might think this is to conservative again the forex market is wild moving to quick up and down be happy with 10 pips!!
It can turn around and go right back to where you entered or worse it keeps on going. FOMO, there will always be another trade, don't loose profit or be greedy!!!
I take a conservative approach you have possible made { did not exit the trade} 10 to 20 pips as all 3 indicators turn up on a 15 minute chart only be 10 pips from the bottom you need room to breath at first I set my stop loss 2 pips above the top channel as I make pips I lower it just follow the channel as you lower your stop loss, I don't think you have the time for a trailing stop loss its to volatile now in forex trading you have to be watching your trades!!! AT the point that your 15 pips profit time to set your stop loss that you made at 10 pips I know you might think this is to conservative again the forex market is wild moving to quick up and down be happy with 10 pips!!
It can turn around and go right back to where you entered or worse it keeps on going. FOMO, there will always be another trade, don't loose profit or be greedy!!!