DislikedSELL STOP | GBPJPY | LOTS: 1 | @ 240.93| SL: 241.72 | TP: 240.01
Calculated SL based on the range of the previous four candles before entry candle:
SL: High 241.84 - Low 241.04 = .80 * 0.68 = 54 pips. SL = 241.18 + .54 = 241.72
TP: 54 * 2 = 108 pips; 241.18 - 1.08 = 240.01
ENTRY PRICE: Entry candle close - 17 pips - 8 pip spread: 241.18 - .17 = 241.01 - 8 = 240.93Ignored
COMMENT: I am considering changing the fixed 17 pip buffer to a percentage (25%) of Take Profit. If TP: = 108 then 108 x 0.25 = 27.This may help with pairs like GBPJPY which are more volatile.
TimeFreedom