DislikedI sincerely appreciate your advices and comments. Thank you haniam
About candle-patterns: i mainly look for "long shadows", but sometimes also "short day", "spinning top/bottom", "doji".
About exits: i mainly use trailing stop. I usually use targets in range. However i am still working about "exit" becouse i can not see easly targets. If you can comment about this, i appreciate it.
In the future charts i will try to be more precise
good trading
From italyIgnored
I think that exiting the trade is the most difficult part, because it deals with the inside deep feeling of the trader and it triggers two conflict feelings: Fear and greed.
This will let the trade to be exited for a 20 pips loss 'just' before it goes back in our direction and make the 50 pips we were 'hoping' for, or let us stay in a winning trade expecting for a better result and here the trade turning and becoming a losing one. Or worst of things, and believe me it happens too much time, to let the losses run 'hoping' that the trade will turn back, until eventually discovering that it will not and the loss is now too big, if not taking all the account balance.
An "automated system" can help get rid of these negative emotions.
So the best way to exit is the same that we use to enter the trade: following the trade plan previously established.
The plan can specify that the exit point is when either it hit the SL, or the trailing stop. It may include multiple target point, and every time a target is hit, we partially exit and move the stop to the previous level, protecting our gains and letting the trade run.
If you use the daily pivot levels as entry, it may be good to use the related daily resistance and support as exit levels.
If you use candle patterns as entries, candle patterns can help for a good exit. Same for Fibonacci levels.
A fixed number of pips for SL and TP can same be used systematically. Lot of strategies are based on this and if they have just a small edge, they will be winning strategies.
So the optimized exit levels will depend on the trading style, but they must definitely be part of the trading plan and be strictly followed to have the chance to provide consistently winning results.