Posted by DigiNomad on 23rd of Feb 2024 at 03:25 pm
What's your risk (R)? If you're looking to set a profit
taker, I would go with 1.5 R to 2 R for the 1st TP level.
Some people like to use multiples of average daily ranges.
Not bad to combine both methods as the range calcs will let you
know if your TP levels based on R's are realistic or not
(indicators like "ATR bands" will do it for you)
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What's your risk (R)? If
I took a position in CIB yesterday based on KISS ...
Posted by DigiNomad on 23rd of Feb 2024 at 03:25 pm
What's your risk (R)? If you're looking to set a profit taker, I would go with 1.5 R to 2 R for the 1st TP level. Some people like to use multiples of average daily ranges. Not bad to combine both methods as the range calcs will let you know if your TP levels based on R's are realistic or not (indicators like "ATR bands" will do it for you)