Just now opened a long position on THEusdt.
For this setup, I could have waited more for a tighter stop but I opt for a very clear invalidation stop which still gives me good RR. Though later on given I see more confirmation I might scale in a bit so that at $0.2684 potential early close area it's at least 2RR
It's only 1.42 RR until that point which isn't great and can be optimized.
Nevertheless, I would rather the current stop I have knowing that if I do get stopped, the setup is most likely completely invalidated.
Setup follows my DTT methodology except for waiting a bit longer for entry confirmation I anticipate that we make a new HH on 30 min tf first then correct again, then that's when the final confirmation before takeoff usually happens If that happens I'll look to scale in.
For this setup, I could have waited more for a tighter stop but I opt for a very clear invalidation stop which still gives me good RR. Though later on given I see more confirmation I might scale in a bit so that at $0.2684 potential early close area it's at least 2RR
It's only 1.42 RR until that point which isn't great and can be optimized.
Nevertheless, I would rather the current stop I have knowing that if I do get stopped, the setup is most likely completely invalidated.
Setup follows my DTT methodology except for waiting a bit longer for entry confirmation I anticipate that we make a new HH on 30 min tf first then correct again, then that's when the final confirmation before takeoff usually happens If that happens I'll look to scale in.
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Disclaimer
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.