Open trading account 
Dear traders,
Normally we put SL just below or above the previous swing high or lows.
Many times it works but sometimes SL HUNTING happens exactly at that point - it always happens irrespective of the time frame of our trades.
The only difference is lower the time frame we use, more the number of whiplashes.
Today this happened to me in GBP/AUD pair.I WENT LONG AT 1.9325 , WHEN IT BROKE THE SECOND TIME but put a narrow stop loss at 1.9270 .
As you can see, 1.9250 or even 1.9260 ( previous low in 4H Candle ) would have been good but you can see that the last but one red candle touched my stop loss ( of hourly chart ) but did not break 4th hourly low.
SO I WAS LOOKING TO SAVE 10 PIPS IN SL BUT LOST 100 PIPS AS A RESULT OF USING LOWER TIME FRAME SL.
Penny Wise. Pound Foolish ! - what else to say ?
HAPPY TRADING, KUTTY
Normally we put SL just below or above the previous swing high or lows.
Many times it works but sometimes SL HUNTING happens exactly at that point - it always happens irrespective of the time frame of our trades.
The only difference is lower the time frame we use, more the number of whiplashes.
Today this happened to me in GBP/AUD pair.I WENT LONG AT 1.9325 , WHEN IT BROKE THE SECOND TIME but put a narrow stop loss at 1.9270 .
As you can see, 1.9250 or even 1.9260 ( previous low in 4H Candle ) would have been good but you can see that the last but one red candle touched my stop loss ( of hourly chart ) but did not break 4th hourly low.
SO I WAS LOOKING TO SAVE 10 PIPS IN SL BUT LOST 100 PIPS AS A RESULT OF USING LOWER TIME FRAME SL.
Penny Wise. Pound Foolish ! - what else to say ?
HAPPY TRADING, KUTTY
