Finding entry stop-loss points using Guppy.
The Guppy system uses a concept called the Count Back Line (CBL), in order to find a reasonable stop-loss when deciding to enter a trade.
A word of caution: the CBL only assists in certain ways below. Selecting a trade under the Guppy system involves SIX tests of which CBL is just one part. Those tests will be outlined In another post.
Simply this is about counting back three candles from the apparent break in the trend. I’ve aimed to show how this is done in the diagrams below. This is not a tutorial. It requires study of other materials. Your losses are your own as per SYP.
RELATED POSTS
What is technical analysis?
When I first started off learning TA, I thought it was ‘technical’. There is nothingRead More
What is money?
I’ve explored money before. Some say, “Everybody knows what money is.. so why ask stupidRead More