The technique catches an upward bounce after some downward movement.
1. Choose the LUKOIL share.
2. In TRANSAQ, click on the Application menu Enter a stop order as shown in Figure 249. Here we indicate the activation price, it should be slightly lower than the current price, we indicate the correction. I have a 1% correction set. This means that when the current price crosses the activation price, a purchase order is automatically opened above the current price by 1%. If the price goes lower, then the whole structure moves down. If the price goes up, the construction is fixed and waits for the price to reach my request, i.e., the departure from the activation price by 1%.
Fig.249. Setting the take profit parameters of the application for automatic tracking of the entry position.
The essence of the strategy is that we do not know in advance where the price will move. Therefore, we entrust the work to monitor the price reversal.
Absolutely, this strategy also works in the opposite direction, only we make a take profit application for sale, and the application itself is placed slightly above the current price.
The strategy is applicable if, for example, you want to work only in Long or vice versa, you like short.