Is EUR/JPY wave IV ending at 137.92 as it seems that Tweezers Top is developing?
Is it advisable to use trailing stop? I've been trying to use it so as to secure profit but I have problems calculating how many pips to use for the trailing stop so that it would not hit even when the wave retraces. Is there some guideline as in how to calculate? For example, at the start of wave 1 of an bull impulse, I enter a trade and put my SL 50pips away and TP 300pips above my entry price, is there a way to calculate Trailing stop such that I can reach my TP without getting kick out of the trade by retracements of wave 2 and wave 4 such that I profit all till wave 5?
Before you're using 4hr chart and now using 8 hr chart, how long usually you stay in the trade? How do you manage your emotion when trade is going against you such that it go against yr prediction more than what it usually retraces by Fib Ratio? Do you close the trade once it is retracing/moving more than what it should by Fib Ratio to minimize losses or you strongly believe the initial analysis is correct and hold the trade till it hit the SL?