This is a very common technique used to plan an entry by placing a buy stop above the last candle high.
The ATR at the point of entry was about 14pips and I typically use a 1.5 to 2 times ATR.
The trade is still opened at this point and time and i'm waiting to move my stop loss higher to protect
my profit.
I do not know the extend on this rally but I know momentum was strong and a breakout has taken place
yesterday. I'd try definitely to stay in the trade as long as possible with the trend.
The ATR at the point of entry was about 14pips and I typically use a 1.5 to 2 times ATR.
The trade is still opened at this point and time and i'm waiting to move my stop loss higher to protect
my profit.
I do not know the extend on this rally but I know momentum was strong and a breakout has taken place
yesterday. I'd try definitely to stay in the trade as long as possible with the trend.