Description in chart
Comment:
The trade has not been triggered, if the price continues its downward movement, and the 47 level is broken then the trade idea must be reevaluated
Comment:
the 47 area has hold so far, so the pending order is still in place
Trade active
Comment:
The next level of interest is around the 49.60 ... lets see if the buyers are strong enough to keep pushing the prices to higer levels
Comment:
So gar the price has broken the 49.60 area, so now is important to see if the buyers are able to hold this level
Comment:
Now that the trade is in positive territory and the daily bars have marked a HL, one could start to make trailing stop, it depends on what you are looking at, in this case we are trying to play the swing movement, so is preferable to have a stop based on the consolidated movement in this case the lower extreme of the upward channel, so in this trade is impotant to give space to the price so it can developed its action
Comment:
Trailing stop 48
Comment:
Trailing Stop 48.20
Comment:
Trailing Stop break even
Comment:
The trailing stop is up to the trader and the most important, it has to be well define in your trading plan ... so if you are in positive territory, follow the rules of trade management written in your trading plan