Courses › BLT | Bank Level Trading
When to Use Mechanical or Discretional SL II
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What this lesson covers
This lesson continues the work on stop placement with a specific example. The chart shows a one, two, three with both a buy and a sell setup, and the sell setup appeared unusually clear at the time. Price completed a large boomerang on the fifteen minute pattern, and dropping to that chart shows the boomerang to the left, the break of structure, the equal highs and the pattern that provided the confirmation. Working through it shows how the stop was placed and why, and what would have happened under a purely mechanical rule. Having a worked example alongside the principles is what makes the distinction usable rather than an idea you agree with in theory.