Disliked{quote} I barely use orders, but if i place them, then not much farther away than 30 pips from the current price. Your approach is interesting, because i too, and i guess everybody has the problem of entering too early sometimes, with an order, you already took the decision and wont change it anymore, its a good approach, maybe i will try it if the right setup occurs for me and i feel inpatient in waiting for the price to come to my desired level. i looked up the levels you mentioned, i particularly like the 1.62 level on GU this is a very important...Ignored
What I found every time what I thought market can't "get" there usually got there me in it earlier entry so this way it limits my involvement.
Here is another thing you can do.If you get triggered at 1.62 and price goes lower and sentiment changes then you can add more shorts to winning position hence pyramiding down maximizing profits.Lower orders should be smaller.
regards
In trading, you have to be defensive and aggressive at the same time