DislikedIf I may, I'll use Frontline's chart to explain why my views on M15 OB/OS Stox are part of my 'discretionary arsenal' rather than 'hard rules' so that there's no confusion:
.I could say that the M15 Stox didn't quite go in OS territory first (white circle) and this is a reason why his Long EJ trade failed: that would be dishonest because in this situation it went close enough to OS that I would definitely consider a long trade then! In fact if anyone has got a technical reason why not go Long as Frontline did (apart from the previous high at 101.77),...Ignored
it finally hit the target !!!
I think the fault is SL too tight
I set at round number , 101.490 (1pip shy of 101.5) which is only 3 pips away from swing low
the scale of the chart makes me feel its wide enough
I will set my SL to swing low +7 pips from now on due to spread issue