we have seen a sign of price increase i.e. the price is making QM PATTERN. If the price wants to continue rising, the price will not fall lower than the LATEST lower low (LL). If the price drops lower than the LATEST lower low, we will stop loss. The TP target is based on a larger TF. I use EMA50 TF Daily as a target. However, I did not place the TP target exactly at the EMA50 TF daily, I placed a lower target so that the TP target is reached faster.
Note
price respect the trendlineTrade closed: stop reached
hit SL and then....? hmmm SL hunter
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.