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Exit from a long trade on a pullback

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    Exit from a long trade on a pullback

    I can get my entry on a breakout using
    " EnterLongStopLimit()", and it shows on the chart entering where I expect it to be. However, I cannot get an exit on a pullback, ie
    On an uptrend, when the trend slows and starts to pullback, one of my indicators tells me that the trend may be over and I should exit the trade, but only if it goes lower. If it does not go lower, but continues to rise, then the strategy must wait for the next signal that the trend may be over.
    I have tried "ExitLongStopLimit()", but that closes the trade when the price moves higher.
    I would be most pleased if someone can tell me what I should do.
    Thank you, from "oldhiker"

    #2
    oldhiker, you could for example place a profit target sell limit order then at your price lower definied, for example x ticks lower than the bar low on which you determine that the trend may have lost it's steam. This order would just remain unfilled if price then continues up and you determine to cancel it.

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      #3
      Exit from long trade on a pullback

      Hello Bertrand,
      Thank you for your reply. I was thinking along those lines last night when I was going to sleep. I will try that today.

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