Let us consider the continuous futures contract of SOYBM meal: H4. Price has approached the upper boundary of bearish channel and has formed the bullish triple bottom figure (marked in yellow)
We can make a protection of long position by using "triple bottom" figure: a stop loss order can be placed below the 316.03 fractal mark. Stop loss is to be moved every four hours near the next fractal low, following Parabolic signals. Thus, we are changing the probable profit/loss ratio to the breakeven point.
- Position Long
- Buy stop above 326.47
- Sell loss below 316.03
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