Im very interested to learn this strategy. Jerry kindly please me your parameters. Thank you!
Break Out + Pull Back & Pure Break Outs 58 replies
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Jerry's Trade 6 replies
DislikedUsing dynamic support/resistance areas and horizontal support/resistance levels to adjust placement of our SL
Have a look at the chart below.
Sometimes (as happened today with EJ and yesterday with GU) our trade is triggered but because our stop loss is “exposed” it gets hit!
So what one can do is place the SL “behind” strong support/resistance areas. As long of course if it (the SL) is not going to to be too far away to make the trade untenable.
I have marked (with white lines) areas where this kind of approach might have...Ignored
DislikedUC sellstop cancelled.....it was at a similar position like EJ (support and BRN), wait for possible break and retest...Ignored