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Stop loss.
As it is M15 timeframe so we havea time to place stop loss.
Never trade without stop loss!
I estimated stop loss levels according to the following:
- i-DayOfWeek indicator;
or
- R1, 2 or 3, or S1, 2 or 3;
or
- ^Pivot_ResSup indicator (static value as well);
or
- dynamic support/resistance/trend lines on M15 chart (see image).
or
-Ichimoku_h4 chart: 10 or 50 pips outside the cloud, or 10-50 pips from the border of the cloud inside the cloud.
I understand stop loss as very important thing. If we have good signal to buy for example but we have no idea about profit level and stop level so we don't open the order.
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