Identified a Bullish
Candle Crossover at the 100 and 10 SMA
. Setup a Pending Buy order and waiting for it to be hit or to cancel it before it's hit if there is a bearish
signal. Once hit I will be monitoring it for any Bearish
signals to close the trade early and minimize losses. And also if the trade goes in my favor, I have certain levels to ensure that I manage to lock in profits and not lose the entire trade in any sudden reversals in the market.
If you're wondering why I have a 100 SMA
and not 200 SMA
like my previous Publish. As on my actual charts I have 4 SMA
in total. 10,50,100 and 200. And I screen the market at hourly and 4 hourly time frames.
I use Fibonacci Levels to set my Stop-loss and Take Profits.