Case1: Set at the opposite entry.

In this case I will explain sell order just ignore the buy order at High1. RSI removed for easy view on the picture.
Sell Entry:
d. RSI(3) & RSI(4) cross below 50.
e. MACD(3,13,1) in red.
f. Confirm a sell. So we set 3 pending order.
Sell Entry = Low1 - 16pips - Spread
= 160.871 – 16pips – spread
= 160.711 - spread
SL = High1 +16pips + spread
= 162.215 + 16pips + spread
= 162.375 + spread
i. Sell = 160.711 + spread, TP = 50pips, SL = 162.375 + spread
ii. Sell = 160.711 + spread, TP = 100pips, SL = 162.375 + spread
iii. Sell = 160.711 + spread, TP = free, SL = 162.375 + spread



Case2: If the H4 bar achieves > 125 pips profit, set our SL to 30 pips.

In this case I will explain sell order. RSI removed for easy view on the picture.
Buy Entry:
d. RSI(3) & RSI(4) cross above 50.
e. MACD(3,13,1) in Green.
f. Confirm a buy. So we set 3 pending order.
Buy Entry = High2 + 16pips + Spread
= 158.932 + 16pips + spread
= 159.092 + spread
SL (When Price hit 160.182 where our profit > 125pips) = Buy entry + 30pips
= 159.092 + spread + 30pips
= 159.392 + spread



Case3:
g. RSI (3) form a new low above 50 for buy.
h. RSI (3) form a new high below 50 for sell



This SL abit tricky but once you master it, it should be easy. So let look at the small picture I magnified. Blue line is RSI(3).

RSI1 = 67.29000
RSI2 = 53.1513
RSI3 = 57.0101

Our rule said for buy, SL when RSI (3) form a new low above 50. So from the figure I had shown you that I collected from the chart. We know that RSI 2 is a new low above 50. So let look at the price for RSI 2 and RSI 3. Which bar have the lowest low will be our SL point. Don’t forget to – 16pips – spread for our new SL.

So now our SL had set at Low3. We maintain this SL at Low3 until Low4 appears. Look at Low4 RSI(3). It forms another new low. Our new SL will be set at Low4.

From the picture we can see that my SL moving up from Low3 -> Low4 -> Low5 -> Low6 -> Low 7 … If it keep going we continue move our SL until the contract is close.

Case4:
i. RSI (3) move below 50 for buy.
j. RSI (3) move above 50 for sell.




In this picture it show Case4 i. This is not a prefect example but it should explain my rule.

Our buy entry is at High5. Case4 i. applies during Low8. RSI(3) cross below 50 (look at the blue line). So we set our SL at the Low of low8.

Case5:
k. Close below MA for buy.
l. Close above MA for sell.




This is a new SL added. Our buy entry is at High6. All data at RSI, MACD are deleted to avoid confusion.

This is a buy order example. Case5 k, apply at Low9. Close of low9 below MA. So we will take the low point of Low9 as our new SL. Don’t forgets to – 16pips – spread for our new SL as well. 

Case6: If trade start without any cases applies, set at recent high or low.



This SL is added to prevent worst case scenery. It is a typical SL. If all our SL rules don’t apply we set the SL at the recent high (for sell) or low (for buy).

In our example, Low10 is our sell entry and High7 is our recent high. So High7 is our SL.