Power Candles and Stop Loss Trigger

[Drapes]

Hi guys,

New to this forum - thoroughly enjoying the price action course material atm.

Was wondering what would happen in the unlikely event that your stop loss was triggered before the entry order? Would the trade be automatically cancelled?

I can see this potentially happening with Power Candle entry orders due to an initial retracement which triggers the stop loss. Obviously you would want the order to be cancelled if this happens for a trade setup based on Power Candles.

Thanks!

 

[TheForexGuy]

If you're entry order isn't triggered and price touches your stop loss, nothing happens. Your trend needs to be active before the stop loss does anything.

To make a pending order cancel when the stop loss is hit, you need an EA to monitor for this and close the pending order for you.