My software has entered a short position as shown on the chart. The trade will be managed using Donchian Channels (all done automatically by my software).
As price moves lower, the Donchian Channels (blue line) will move in conjunction with price, to the high of the previous 5 candles. When (if) this blue line moves below our initial stop loss, my software will automatically use this as a trailing stop.
There are no profit targets, I'm simply using the blue line as a trailing stop until it is hit.
As price moves lower, the Donchian Channels (blue line) will move in conjunction with price, to the high of the previous 5 candles. When (if) this blue line moves below our initial stop loss, my software will automatically use this as a trailing stop.
There are no profit targets, I'm simply using the blue line as a trailing stop until it is hit.
Comment:
Trailing stop has been moved and positions has been left open over the weekend. We'll see what next week brings...
Trade closed: target reached:
Hit the trailing stop shown above :)
Risk = 10.5pips
Reward = 45pips
Returns = 4.3R
Risk = 10.5pips
Reward = 45pips
Returns = 4.3R