We were looking at the long setup on our last BCH post, but that setup was invalidated. The indicator showed us a short setup, which got triggered. Stop loss is at the level the indicator shows us. Remember position sizing: the size of the position should be (must be!) so that if the market hits the stop loss you lose a maximum of 3% of your account!
We'll wait for the indicator to give us an overextension signal or a new stop , to move the stop loss down accordingly.
If you want to try our indicator out, follow us and drop a comment and we’ll get you set up.