drjoe.........
you are absolutely correct, this is why I call this second trade a "stop & reverse" type of trade. thanks for your input!
you are absolutely correct, this is why I call this second trade a "stop & reverse" type of trade. thanks for your input!
Quoting drjoe4xDislikedI believe he used 10 pips beyond the high/low as a buy/sell stop order since he was using a 25 pip S/L and entering 15 pips below the high or above the low...a stop and reversal entry would be entered at 10 pips above or below the PNDH/PNDL when the S/L was triggered.
Pred Next Day High: 1.1875
Sell Limit Order: 1.1860
Buy Stop Order: 1.1885 (Stop and Reverse)
Pred Next Day Low: 1.1800
Buy Limit Order: 1.1815
Sell Stop Order: 1.1790 (Stop and Reverse)
If I am wrong, please correct me BB...but I am thinking that was the process.
drjoeIgnored