Hey Sterling
Can you look at the chart that I have provided to confirm that what I am doing is correct.
I was in a short trade on this pair at candle #2
I trailed my stop loss to 5 pips above candle #3, this was also a valid setup candle so I began looking for a reversal candle.
no reversal came and I was stopped out at candle #7
So i do not have a trade open at this time but candle #8 is a valid setup candle and I do have a buy order 5 pips above the high.
My question is should I have trailed my stop down to candle #4 which would have then been stopped out at candle #5 and then started looking for a setup candle?
Can you look at the chart that I have provided to confirm that what I am doing is correct.
I was in a short trade on this pair at candle #2
I trailed my stop loss to 5 pips above candle #3, this was also a valid setup candle so I began looking for a reversal candle.
no reversal came and I was stopped out at candle #7
So i do not have a trade open at this time but candle #8 is a valid setup candle and I do have a buy order 5 pips above the high.
My question is should I have trailed my stop down to candle #4 which would have then been stopped out at candle #5 and then started looking for a setup candle?