RE this AM: I have come to the conclusion, maybe incorrectly but through as logical thinking that I can muster that...
If I have entered at a solid S/R level on good confirmation and price does not SAR immediately (NB a SAR must occur imd after the entry and preferably still be on the level, not off it), then I have likely got it right and it is more important for me to concentrate on (holding until price reverses at another S/R level) not getting shaken out, than taking fake secondary signals that will in no way be as strong as my initial entry and will likely just be shake outs.
I must not buy on Hi wave candles
Stop Loss thoughts (from the past)
1. I will place ISL at the other extreme of the trigger bar + spread.
2. I will SAR if and only if the reversal happens imd after entry and price is (preferrably) still in contact with the level. If price has detached from the level then only a close confirmation should be considered.
3. I will commence TSL when current bar closes beyond the trigger extreme +spread.
3.1 will Then TSL everytime price closes beyond the extreme of the prior with trade candle.
4. I will NEVER place a TSL on a NRB,doji or bars that gap.
5. I will Only exit discretionary if and when price meets another valid area of S/R and confirms a reversal.
If I have entered at a solid S/R level on good confirmation and price does not SAR immediately (NB a SAR must occur imd after the entry and preferably still be on the level, not off it), then I have likely got it right and it is more important for me to concentrate on (holding until price reverses at another S/R level) not getting shaken out, than taking fake secondary signals that will in no way be as strong as my initial entry and will likely just be shake outs.
I must not buy on Hi wave candles
Stop Loss thoughts (from the past)
1. I will place ISL at the other extreme of the trigger bar + spread.
2. I will SAR if and only if the reversal happens imd after entry and price is (preferrably) still in contact with the level. If price has detached from the level then only a close confirmation should be considered.
3. I will commence TSL when current bar closes beyond the trigger extreme +spread.
3.1 will Then TSL everytime price closes beyond the extreme of the prior with trade candle.
4. I will NEVER place a TSL on a NRB,doji or bars that gap.
5. I will Only exit discretionary if and when price meets another valid area of S/R and confirms a reversal.
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