This is just showing my thought process for a potential long term trade.......
Would certainly have to BACK TEST this as a set up and practice how to manage the Trade during the process......i.e. the 4 hour stop loss idea may lock in valuable profit SHORT TERM but will changing my STOP on a 4 hour timeframe STOP me out before my LONG TERM targets are HIT.....
Also, would want potential of maybe 2 more confluences to back up my Trade Entry, based on PRICE - may need to brush up on CANDLE Formations / Candle TYPES to add confidence.
Would certainly have to BACK TEST this as a set up and practice how to manage the Trade during the process......i.e. the 4 hour stop loss idea may lock in valuable profit SHORT TERM but will changing my STOP on a 4 hour timeframe STOP me out before my LONG TERM targets are HIT.....
Also, would want potential of maybe 2 more confluences to back up my Trade Entry, based on PRICE - may need to brush up on CANDLE Formations / Candle TYPES to add confidence.
