ilmscore | Prediction Details
"another more popular strategy that I've actually saw used more often is to put a buy buy and sell stop order and if you don't know what that is pretty much a buy stop order is going to buy you in above a resistance level or above where price action is and a sell stop order will sell you into the market below where price action is so for instance let's say this is a candle here and you have a sell stop order right here it acts as a limit order for when the market hits it even though it's below price action so as soon as the market hit it as soon as a candle touched that sell stop order you would be filled short and then you could decide where to put a stop- loss or maybe you already had a swing High over here somewhere and you have your stop loss set in just as with a limit order so having that knowledge and knowing that there's a big news event coming out before the news event let's say 30 minutes to an hour before the news event you could take and put a sell stop order 5 to 10 Pips below the most previous support level which would be right in there would be your sell stop order and you can put what's called a buy stop order right above 5 to 10 Pips above the highest resistance level and with that being the case you can see that if I put a long position tool here and you put your stop loss under the swing low again you could have easily hit Targets on this specific trade as well"
By The Trading Channel (The Trading Channel) | January 27, 2017 | Pending
From video
How to create a news based trading strategy ( Free Strategy ) 00:05:22 - 00:06:47
Interpreted Prediction
A strategy for trading before major news events involves placing a sell stop order 5-10 pips below the previous support level and a buy stop order 5-10 pips above the previous resistance level. This aims to capture significant price movements immediately following the news release.

Prediction Details

Topic
Buy Stop and Sell Stop Orders for News Events

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