Reply To: Exercise 6 + Question

Welcome! Forums Forex Breakthrough Academy Forum Exercise 6 + Question Reply To: Exercise 6 + Question

Rich FittonRich Fitton

Hi Dave, with the MA crossover confirming 15min engulfing candles thing it’s possible to use both signals in conjuction. e.g. you might spot a 15min engulfing pattern and then switch to the 5min chart to make sure you see a crossover as a confirming signal before actually trading. You don’t have to do this – it might mean missing better fill prices – but it can certainly help some traders take extra confidence in their early trades.

I’m guessing you took 1.55146 as the exit point on the 5 min chart – was 1.55054 a profit target you had in mind rather than trailing stop?

1.53937 seems a bit close to the action on the 15 min chart for a trailing stop, not sure how you found that price, was it a level from the 5 min chart? Remember how we’d usually trail the stop up under the price action as the market made new highs – I’ve attached a screenshot of how you might manage the stop on that 15min trade. The green arrow marks the break to new highs, the green line is where you might move the stop once you’d seen the break, the red arrow is the market hitting the stop and taking you out of the trade.

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