1. The bar was closed above MA/EMA line. 2. Find the nearest bar that closed below MA/EMA line. 3. Define the highest and lowest price between these 2 bars. 4. Entry price = This highest price + N pips 5. Stop loss = This lowest price - N pips N pips is up to you (could be 5 pips) 6. Take Profit at Fibonacci Extension (127% , 162%, 262% or move stop loss when have the bar reversal). 7. OR you can move stop loss when have the bar closed below the MA/EMA line. (Example as shown)
SELL ORDER
1. The bar was closed below MA/EMA line. 2. Find the nearest bar that closed above MA/EMA line. 3. Define the highest and lowest price between these 2 bars. 4. Entry price = This lowest price - N pips 5. Stop loss = This highest price + N pips N pips is up to you (could be 5 pips) 6. Take Profit at Fibonacci Extension (127% , 162%, 262% or move stop loss when have the bar reversal). 7. OR you can move stop loss when have the bar closed above the MA/EMA line. (Example as shown)
NOTE: THIS IS NOT A RECOMMENDATION TO TRADE BUT PURELY AN OBSERVATION ON PERSONAL RESEARCH. YOU MUST MAKE AND MANAGE YOUR OWN TRADING DECISIONS
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