Exit strategies - largolargo
1. I use trendlines instead of MA. If the prize touch the trendline and go through it with 3-5 pips – in ~70% will break the trend.
2. Candle pattern – if it is classic ~85%. If not- ~50-70%
3. I use pivot points instead of fibonachi- S1,S2,PP,R1,R2 and the lines in between them. These are the places where “my finger is on the trigger”. If pattern or trendline breakout happens here- +10% probability
4. When the prize progreses and makes double top on the 5 min, and the second top is higher but in RSI is lower. RSI divergence ~70% probability
These are the best IMO. The most powerfull. I use them in combination.
r/r Target based on stop loss. good if not around the PC for few hours
Trailing stop.- the worst method in my opinion
And almost forgot economic news. If bad- exit.
I use 2 lots. With the first I lock profit early and then reenter if needed. The second- exit only when there are sure sings.