In the last lesson we have lea forexbrokercashbackned how to find your trading opportunities In th bestcashbackprogramsforex lesson we cashback forex talk about how, if a certain Best forex trade cashback level is reached, then Bestforextradecashback opportunity will potentially turn into an actual trade You can use pending orders instead of waiting in front of the screen to reach that price level Pending orders contain potential trades that will automatically trigger But only when the price reaches your pre-determined level is the market direction up: use a buy stop order / you can use a buy stop order when you are sure that the market direction is in place In order to do this you need to set an entry price, stop loss, profit target and position size Check the news / you must check for any news that may affect your trade before and after using this order If, during this period, there is any news that can have a large impact on the market, then you should not trade at this time News and data releases can cause a large increase in volatility and a sudden change in the direction of the market, which can lead to a quick stop loss on the trade If you are already trading, then it is best to close the trade early as this will help you to reduce your risk Set the entry price based on the last fractal / Find the last fractal and place the horizontal line below the lowest price of the bar against which the fractal is placed, this is the price at which you will enter the market, the blue line in the chart below indicates the price at which you will enter your pending buy order in the MT4 platform When the price reaches this level, your pending order will automatically enter the trade The last downward fractal price breaks below the lowest horizontal line, indicating that a trading opportunity will arise with Rivet Buy at 1.31001 next pivot point from the entry price Enter a stop loss based on the last fractal / Find the last down fractal and place a line at the tip of the fractal - this is where your stop loss will be located The red line in the chart below shows the price at which you will enter a stop loss When the price crosses the high of the last fractal The pending buy stop is located at the tip of the last downward fractal at 1.30825 The next pivot point from the entry price Use the pivot point to enter a profit target / Find the next pivot point from the entry on the chart - this is the profit target The green line shows the price you will enter for your profit target When the price crosses the high of the last fractal The entry stop is at the tip of the last downward fractal Profit target at 1.31265 is the next pivot point entry price However, you should note that if your profit target does not exceed 5 pips, then you should move the next pivot point up This will ensure that you incorporate the spread into your target and maintain a reasonable payout ratio Risk Midnight Pivot Points are subject to change based on the current previous days In this case, you must adjust your profit target to the next new pivot point The chart below shows the change: the previous pivot point, which was the original target, is the new pivot point, which is where you need to adjust your stop loss