Special Consultant to the FPA
Hello,Hope RogerTC will correct me if I'm wrong...or add his observations
TP usually safe option is OP from 2repo. SL, one say it's when price closes over 61.8% second swing high-low. Conservative can be above max/min price (depending if 2repo is bearish/bullish action)
Here you go. Trading DRPO failures is same since the book is written.
EX: How to trade DRPO sell failure ?
- Must see a close above F5 resistance first. Then we will look to long the market.
- Entry immediatly or drop two timeframes and look for entry at first f3 retracement/support.
- Stop below next support or close below 3*3 DMA on context timeframe again.
- Exit (take profit) LPO on two lower timeframes .