Reply To: Practical Exercise 6
Thanks for your reply. Looking closely at my entry, I suppose technically I should have entered 1 pip below the wick of the bearish engulfer, rather than 1 pip below the the body.
It sounds like a small point and I know long wicks on entry candles are not ideal. It would have worked in this case and kept the stop loss tight but I suppose I run the risk of getting filled and the price retracing for an immediate loss.
I think in future I’ll make sure I keep my entries 1 pip beyond the end of the entry candle wick.