Forex price based chartswap

You can select which category you fall into—beginner or expert trader—when you sign up. Plus, Bybit directs you on how to use the platform the first time you use it. However, you can get started without KYC. All you need are the following credentials to complete both the level one and two KYC verification processes.

A government-issued ID card or passport that shows your residential proof or country of origin. A recently taken photo of you Utility bill within the last six months Bank statement within the last six months. On completing your verification from level 1 to level 2, your daily deposit and withdrawal limits increase. It is easy to navigate to the KYC verification section.

Deposit and withdrawal Bybit has no minimum deposit requirement. Meanwhile, withdrawals are processed three times a day at , , UTC. The cut-off time for withdrawals is 30 minutes before the scheduled withdrawal processing. You can rest assured that Bybit exchange will send all your withdrawals to your wallet about hours after review. There is also an affiliate program you can earn from when you promote the exchange on the internet. You can join the affiliate program as a trader or as a promoter.

If successful, you can customize your link and share it across your internet channels and social media handles. Also, ensure to read the affiliate agreement and terms surrounding the program to understand its nook and crannies.

It is interactive software with a host of exciting features. The web app is mobile compatible, and you can sign up simultaneously on both devices and access all the features on a desktop. You can create order books and fill orders with a single click. You can personalize your charts and include indicators if you wish.

For a clearer view, you can open a full-screen chart and make decisions from a clearer perspective. Also, the trading comes in three different dimensions: The single chart mode: It gives you a single chart with trading tools, and you can monitor or track only one trade at a time.

The multi-chart mode 3-chart view : You can customize, monitor, and track charts from three different trades at a time. The multi-chart mode 4-chart view : Like the preceding charts, you can monitor and track four different trades simultaneously. You can locate the chart swap setting by the left-hand side of the web app.

Click on the arrow pointing right to display the dropdown menu; the first three icons are the charting modes. Switching between these charting modes is easy, and you can customize and save your settings in-between. Image Source: Bybit Mobile Application The Bybit mobile app gives you an excellent mobile trading experience that is easy to use, responsive and has good functionality on Android and iOS devices.

As a trader and a digital person who is always on the go, you will want to keep track of your open positions. Although the Bybit mobile app is outstanding, the desktop-web trading app is preferable to seasoned traders. Supported Cryptocurrency Bybit has a limited number of cryptocurrencies it supports. You can deposit and withdraw these and many more assets with ease. However, Bybit does not support any fiat currency at this time.

Educational Tools Bybit comes with an impressive selection of resources, news, and insights for traders of all levels. It enlightens users about decentralized finance DeFi and has a detailed analysis of individual coins. Bybit also organizes classes on social media twice a week, which is absolutely a good thing since you need to have a sound understanding of futures and margin advanced financial tools to use them.

You can reach out to the support team at [email protected]. If you have a technical issue, you can drop a query at [email protected]. If it is a media-related query, then it should be at [email protected]. Regulation and Security Bybit is not regulated. However, the exchange adopts several security measures to protect its user funds. It is rare for a cold-storage wallet to be attacked or hacked because private keys linked to it are stored offline.

Although the cold-storage wallet allows investors and traders to hold their digital assets without being connected to the internet, the exchange holds a small portion of funds in a hot wallet to enable disbursement of funds when needed. The multi-signature means the Bybit exchange will only sign a transaction if several parties are involved in its approval. The insurance is there to protect users from trading futures contracts in a case where a trader gets liquidated at a level below the bankruptcy price.

By this, the trader gets to give back its borrowed fund to the lender. For data encryption, the company works with full SSL encryption for its website. It is an additional security feature that users need to follow to protect their accounts. Aside from using your email account and password, you must use the Google Authenticator app, which allows you to protect your account using your phone.

Lo intendo come complimento…tu ti senti ancora un MC? Certo che sono anche un MC. Facciamo delle previsioni. Se va bene, benissimo, di lusso, cosa succede? O meglio…cosa vorresti succedesse? Se va male come la prendi? Al massimo faccio un altro disco. E dopo un altro. Ogni parola doveva pesare una tonnellata. Ne hai lasciati fuori tanti dalla tracklist finale? Ho saputo di qualche major che si sta mangiando le mani per non averti fatto firmare un contratto… sono solo voci di corridoio?

Ho fatto male a chiedertelo? Se vuoi puoi non rispondere o essere evasivo. Alle major ci pensiamo per i prossimi dischi, quando hanno finito di digerire le mani! Adesso per favore me lo dici quando esce il disco? Esce il 27 Maggio.

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All you need is the ability to set up the chart pending orders. Trailing stop protects profit. Lack of statistical proof. How to Trade? A higher timeframe chart is recommended as each trading setup requires some calculations based on the latest bar. You should calculate The key number first. For the quotes with four digits after a dot, the critical value is the current Price multiplied by ten and then rounded.

For the quotes with two digits after a dot, the key value is the current Price divided by ten and the rounded. In both cases, the values have to be rounded. Trailing stop TSL is also applied to the orders and is set to 2. If this sounds complicated, see the example below. Many people believe that prices evolve randomly and that there is no way to predict the future. Those who subscribe to this hypothesis avoid trading and invest in index funds. Others believe that prices are at least somewhat predictable.

Those who belong to this group want to beat the market through fundamental analysis, technical analysis, or the combination of the two. Fundamental analysis uses financial data such as GDP reports or expectations of future interest rates to determine proper exchange rates.

Thus, while fundamental analysts rely on economic data, technical analysts examine patterns of past price behavior. Some forex patterns relate to only one or a few price bars. These are called candlestick patterns and not chart patterns. The distinguishing feature of chart patterns is that they take a long time to form and consist of several price bars.

Edwards and John Magee were the first to provide a systematic overview of the most commonly recognized chart patterns. The idea is that if you can develop an understanding of various forex chart patterns, you can become a better trader. Why Do Chart Patterns Occur? Chart patterns occur because people behave in similar ways as they did in the past. The traditional academic view has always centered on the notion that investors are rational and market prices properly reflect whatever information is available to them.

This suggests that regardless of how high or low the price is, it must be the correct price based on currently available information. Now, here we run into a problem—at least as far as chart patterns are concerned. If currently available information is already priced in, only new information can cause price changes.

How could past price data help you predict the future if the market reacts only to new information, which is obviously unpredictable? These people are the proponents of the economic theory referred to as the efficient market hypothesis EMH , introduced by Fama. Behavioral finance argues that people are not always rational , and their decisions are subject to various biases. You can probably recall situations when you threw your analysis through the window and acted based on your feelings.

Perhaps you were afraid of missing out on an opportunity or you held on to your losing position for too long. Irrationalities like these happen all the time because emotions such as fear and greed prompt people to do crazy things. Now, if people are consistently influenced by their emotions, it is logical to expect that some patterns are observable on price charts and repeat themselves around important psychological areas.

This last point is important. You can find chart patterns on any chart, but chart patterns at important psychological levels are more meaningful. Are Chart Patterns Reliable? Unfortunately, this question is hard to answer with a simple yes or no. It is safe to assume that your ultimate trading system will influence your success with chart patterns.

Chart patterns alone will get you into more trouble than they are worth. Just think about it: How difficult was it to find this article about chart patterns? Chances are, it took only a simple Google search. This is because chart patterns are publicly available information.

They are easy and costless to obtain. If forex chart patterns were very reliable, every market participant would closely monitor them. Once a signal was present, the market would be flooded with orders and the price would immediately rise or fall to the foreshadowed rate. On the one hand, this is clearly not the case. You might have an outstanding internet connection, but good luck beating the speed of Wall Street firms that spend millions of dollars on things like smart routers, algorithms, and high-speed connections to exchanges.

You can find just as many failed patterns as successful ones. On top of that, chart patterns are subjective. The psychological forces that are supposed to form these patterns also require time to play out. Patterns on higher charts such as the daily might be more meaningful than intraday patterns.

You can be sure that most market participants closely monitor the 1. European exporters such as Mercedes might worry that their products will not sell abroad if the EUR strengthens. The point is that a lot of market interest is clustering around a particular level. You know this because the market is hovering around that level for a long time.

Besides, spotting a pattern is just the beginning. What you do next will have a profound impact on your results as well as your perception of the reliability of chart patterns. How to Use Chart Patterns in Forex Chart patterns can serve as a basis for a wide variety of trading systems.

They can help you carve out an edge over the market and make money in forex. While they are no silver bullet, they provide some information, which is better than having no information. Chart patterns are often simple formations such as two failed attempts to achieve a new high price. What is the timeframe? Are other negative factors accompanying the pattern? How does the risk relate to the potential reward?

Are important news releases scheduled? Successful trading systems that incorporate chart patterns also account for a variety of factors. We recommend that you bookmark our guides on how to create a trading strategy and how to create a trading plan. That way, you can read them later, when you are finished with this article.

A few notes before we get started: Entry and exit points With each chart pattern, you can use the formation height and add it to the breakout price to get the profit target. They look at how volume changes during the formation of the pattern, and might reject or favor set-ups based on that.

While this is fine, the forex market is decentralized. This means that whatever volume data you have, it relates to only a small portion of the market such as volume at your broker and might not represent the entire market. An art, not a science Chart patterns are subjective, meaning that different traders might do and interpret things differently.

For example, someone might draw trendlines using wicks, while someone else might use closing prices. Instead of worrying about every little detail, focus on what certain formations reveal about the balance between buyers and sellers. Sometimes you have to be more flexible and throw in some extra reps or rest a bit more. The same goes for chart patterns. Every situation will be slightly different, which is fine.

Double Top The double top is one of the simplest patterns on charts. How to read the pattern: When the price reaches a new high, it shows conviction behind the uptrend. Each trend alternates between impulse and consolidation moves, so the correction following the high is to be expected.

The situation turns interesting when the price resumes its trend and reaches the high again. Instead of breaking through and putting in another higher high, the buying pressure evaporates and the price is unable to surpass its previous high. As you might know, uptrends are characterized by higher highs and higher lows. When the price fails to break above the prior high, it breaks the pattern of an uptrend and signals possible weakness. Perhaps it will take a bit more time for buyers to attain a new high or perhaps sellers are about to take control.

You can assume that sellers are strong enough to reverse the trend or at least drive the market into an extended consolidation. Both cases can be a good set-up for a short trade. The double top pattern is completed when the neckline breaks. Traders often set a profit target by measuring the distance between the neckline and the high of the pattern and projecting it to the neckline break. Do not copy without permission. Double Bottom The double bottom is the mirror image of the double top.

How to read the pattern: When the price reaches a new low, it shows conviction behind the downtrend. As we have pointed out, trends consist of impulse and consolidation moves. The situation turns interesting when the price resumes its trend and reaches the low again. This is problematic because the downtrend should follow the pattern of lower highs and lower lows.

When the price fails to break below the prior low, it signals a possible issue with the trend. That said, this is not yet a buy signal. Now you can assume that buyers are strong enough to reverse the trend or at least drive the market into an extended consolidation. In both cases, you can favor a long trade. The double bottom pattern is completed when the neckline breaks. Traders often set a profit target by measuring the distance between the neckline and the low of the pattern and projecting it to the neckline break.

Take a look at this guide Head and Shoulders The head and shoulders pattern is a fairly complex formation consisting of three peaks, with the center peak being the highest of the three. This forms the left shoulder. From the low point of the left shoulder, the bullish advance continues and significantly surpasses the previous high. After some time, the price reaches a new peak and now enters a more prolonged consolidation.

This forms the head. A final advance from the low of the head starts but it quickly fails, and the market turns down. This forms the right shoulder. The right shoulder is lower than the head and roughly in line with the left shoulder. The pattern is completed when the price breaks below the neckline, which is the line connecting the low of the shoulders.

The neckline can slope in any direction and is a good predictor of the severity of the price decline. You can project the height of the pattern to the neckline break and set your profit target accordingly. An example of a successful head and shoulder set-up is shown below: For a beginner trader, the head and shoulders pattern might be more difficult to recognize. You can always zoom out a bit from the price action or switch to a line chart.

Inverse Head and Shoulders The inverse head and shoulders pattern is the bearish equivalent of the head and shoulders. It can be found at the bottom of downtrends and indicates a bearish-to-bullish trend reversal. How to read the pattern: Following a falling market, the price bumps into a bottom and then rises to form the left shoulder.

From the high of the left shoulder, a bearish decline starts. It progresses significantly below the previous low to form the head of the pattern. Then the price begins to rise again. A final decline from the high of the head starts to form the right shoulder.

This trough is higher than the head and about equal to the bottom of the left shoulder. From the bottom of the right shoulder, the price starts to rise again. Once it breaks above the connected high points of the pullbacks neckline , the pattern is complete.

Below are an example of a winning inverse head and shoulder set-up: We have a separate guide on Head and Shoulders patterns that you can access via this link if you want to learn more about them. Rising Wedge The rising wedge pattern forms when the market makes higher highs and higher lows within a shrinking range that slopes upward. This pattern is trickier than those we have discussed so far because its signal depends on the trend.

That is, a rising wedge in an uptrend signals reversal while a rising wedge in a downtrend signals continuation. The price makes higher highs and higher lows, which fulfills the characteristics of a healthy uptrend. The reason the rising wedge acts as a reversal signal despite being indicative of a strong trend is the extent of the price increase. If you take a closer look at the pattern, you will notice that the lower trendline rises at a steeper angle.

While the market keeps reaching higher highs, the subsequent consolidations are shorter and shorter. This happens when investors are so enthusiastic that every time the market dips, they rush to buy and immediately bid up the price. Unfortunately, this can go on for only so long before the interest dries up and the market collapses. Every trend has a point where everybody who wanted to buy has already bought. This is when short-selling intensifies and the market begins ticking down.

Thus, people cash out on their long positions, which further fuels the downward pressure. The rising wedge marks this turning point and allows you to position yourself accordingly. The example below will illustrate: How to read the pattern in a downtrend : The rising wedge in a downtrend is created by the same overconfident buyers, except that this time the market is in a downtrend.

Each time the market begins consolidating after a drop, traders are speculating on a reversal. If these traders are in the majority, the market can indeed reverse. The reason for this is fairly simple. There is no reason to risk getting stopped out by the imminent correction.

It makes more sense to wait until the correction occurs and enter at a better price. When enough traders think this way, the selling pressure will ease, allowing buyers to bid up the price. When buyers finally run out of steam, however, all the traders sitting on the sidelines will flock to the market with their shorts.

This is why the rising wedge suggests continuation in a downtrend. It marks the point where the bull run fails, and sellers force the market back into trend. Here is an example: Falling Wedge The falling wedge pattern forms when the market makes lower highs and lower lows within a shrinking range that slants downward.

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Besides, spotting a pattern is just the beginning. What you do next will have a profound impact on your results as well as your perception of the reliability of chart patterns. How to Use Chart Patterns in Forex Chart patterns can serve as a basis for a wide variety of trading systems.

They can help you carve out an edge over the market and make money in forex. While they are no silver bullet, they provide some information, which is better than having no information. Chart patterns are often simple formations such as two failed attempts to achieve a new high price. What is the timeframe? Are other negative factors accompanying the pattern? How does the risk relate to the potential reward? Are important news releases scheduled?

Successful trading systems that incorporate chart patterns also account for a variety of factors. We recommend that you bookmark our guides on how to create a trading strategy and how to create a trading plan. That way, you can read them later, when you are finished with this article. A few notes before we get started: Entry and exit points With each chart pattern, you can use the formation height and add it to the breakout price to get the profit target. They look at how volume changes during the formation of the pattern, and might reject or favor set-ups based on that.

While this is fine, the forex market is decentralized. This means that whatever volume data you have, it relates to only a small portion of the market such as volume at your broker and might not represent the entire market. An art, not a science Chart patterns are subjective, meaning that different traders might do and interpret things differently.

For example, someone might draw trendlines using wicks, while someone else might use closing prices. Instead of worrying about every little detail, focus on what certain formations reveal about the balance between buyers and sellers. Sometimes you have to be more flexible and throw in some extra reps or rest a bit more. The same goes for chart patterns. Every situation will be slightly different, which is fine. Double Top The double top is one of the simplest patterns on charts.

How to read the pattern: When the price reaches a new high, it shows conviction behind the uptrend. Each trend alternates between impulse and consolidation moves, so the correction following the high is to be expected. The situation turns interesting when the price resumes its trend and reaches the high again. Instead of breaking through and putting in another higher high, the buying pressure evaporates and the price is unable to surpass its previous high.

As you might know, uptrends are characterized by higher highs and higher lows. When the price fails to break above the prior high, it breaks the pattern of an uptrend and signals possible weakness. Perhaps it will take a bit more time for buyers to attain a new high or perhaps sellers are about to take control.

You can assume that sellers are strong enough to reverse the trend or at least drive the market into an extended consolidation. Both cases can be a good set-up for a short trade. The double top pattern is completed when the neckline breaks. Traders often set a profit target by measuring the distance between the neckline and the high of the pattern and projecting it to the neckline break.

Do not copy without permission. Double Bottom The double bottom is the mirror image of the double top. How to read the pattern: When the price reaches a new low, it shows conviction behind the downtrend. As we have pointed out, trends consist of impulse and consolidation moves. The situation turns interesting when the price resumes its trend and reaches the low again. This is problematic because the downtrend should follow the pattern of lower highs and lower lows. When the price fails to break below the prior low, it signals a possible issue with the trend.

That said, this is not yet a buy signal. Now you can assume that buyers are strong enough to reverse the trend or at least drive the market into an extended consolidation. In both cases, you can favor a long trade. The double bottom pattern is completed when the neckline breaks.

Traders often set a profit target by measuring the distance between the neckline and the low of the pattern and projecting it to the neckline break. Take a look at this guide Head and Shoulders The head and shoulders pattern is a fairly complex formation consisting of three peaks, with the center peak being the highest of the three. This forms the left shoulder.

From the low point of the left shoulder, the bullish advance continues and significantly surpasses the previous high. After some time, the price reaches a new peak and now enters a more prolonged consolidation.

This forms the head. A final advance from the low of the head starts but it quickly fails, and the market turns down. This forms the right shoulder. The right shoulder is lower than the head and roughly in line with the left shoulder. The pattern is completed when the price breaks below the neckline, which is the line connecting the low of the shoulders. The neckline can slope in any direction and is a good predictor of the severity of the price decline. You can project the height of the pattern to the neckline break and set your profit target accordingly.

An example of a successful head and shoulder set-up is shown below: For a beginner trader, the head and shoulders pattern might be more difficult to recognize. You can always zoom out a bit from the price action or switch to a line chart. Inverse Head and Shoulders The inverse head and shoulders pattern is the bearish equivalent of the head and shoulders.

It can be found at the bottom of downtrends and indicates a bearish-to-bullish trend reversal. How to read the pattern: Following a falling market, the price bumps into a bottom and then rises to form the left shoulder. From the high of the left shoulder, a bearish decline starts. It progresses significantly below the previous low to form the head of the pattern. Then the price begins to rise again.

A final decline from the high of the head starts to form the right shoulder. This trough is higher than the head and about equal to the bottom of the left shoulder. From the bottom of the right shoulder, the price starts to rise again. Once it breaks above the connected high points of the pullbacks neckline , the pattern is complete. Below are an example of a winning inverse head and shoulder set-up: We have a separate guide on Head and Shoulders patterns that you can access via this link if you want to learn more about them.

Rising Wedge The rising wedge pattern forms when the market makes higher highs and higher lows within a shrinking range that slopes upward. This pattern is trickier than those we have discussed so far because its signal depends on the trend. That is, a rising wedge in an uptrend signals reversal while a rising wedge in a downtrend signals continuation. The price makes higher highs and higher lows, which fulfills the characteristics of a healthy uptrend.

The reason the rising wedge acts as a reversal signal despite being indicative of a strong trend is the extent of the price increase. If you take a closer look at the pattern, you will notice that the lower trendline rises at a steeper angle. While the market keeps reaching higher highs, the subsequent consolidations are shorter and shorter. This happens when investors are so enthusiastic that every time the market dips, they rush to buy and immediately bid up the price. Unfortunately, this can go on for only so long before the interest dries up and the market collapses.

Every trend has a point where everybody who wanted to buy has already bought. This is when short-selling intensifies and the market begins ticking down. Thus, people cash out on their long positions, which further fuels the downward pressure. The rising wedge marks this turning point and allows you to position yourself accordingly.

The example below will illustrate: How to read the pattern in a downtrend : The rising wedge in a downtrend is created by the same overconfident buyers, except that this time the market is in a downtrend. Each time the market begins consolidating after a drop, traders are speculating on a reversal. If these traders are in the majority, the market can indeed reverse.

The reason for this is fairly simple. There is no reason to risk getting stopped out by the imminent correction. It makes more sense to wait until the correction occurs and enter at a better price. When enough traders think this way, the selling pressure will ease, allowing buyers to bid up the price.

When buyers finally run out of steam, however, all the traders sitting on the sidelines will flock to the market with their shorts. This is why the rising wedge suggests continuation in a downtrend. It marks the point where the bull run fails, and sellers force the market back into trend. Here is an example: Falling Wedge The falling wedge pattern forms when the market makes lower highs and lower lows within a shrinking range that slants downward.

As the price moves to the downside, the two trendlines that connect the highs and the lows will eventually converge. This suggests continuation if the trend is up, or reversal if the trend is down. How to read the pattern in an uptrend : Often, after a new high is reached, the market will enter a period of consolidation. The falling wedge forms when this temporary decrease happens in a rather aggressive manner but loses its momentum before it threatens the trend.

When people see that the consolidation is about to end, they begin buying at the discounted price, which results in the quick price jump at the end of the pattern AKA the breakout. The following example will help you spot a falling wedge in an uptrend: How to read the pattern in a downtrend : A falling wedge in a downtrend occurs after a severe price drop. It signals an intensifying buying pressure, which is not surprising, as the price at this point is heavily depressed.

When the supply finally dries up, invigorated buyers lift the price, providing you with a chance to catch a market reversal. We prepared an example so that you can familiarize yourself with the downtrend falling wedge. Go to this ultimate guide to learn even more about trading wedges, including strategies for different trading styles. It forms when the price quickly shoots up and then begins consolidating. The advance is expected to continue after the consolidation.

How to read the pattern: The first part of the pattern is the flagpole, which is a huge advance that breaks through a previous resistance level. This huge advance is usually triggered by a news event. Following the advance, the price goes through a consolidation phase that looks like a flag — hence, the name of the pattern. The flag consists of two parallel trendlines that point slightly down and retraces a small portion of the trend.

Note that if the retracement is too substantial, the flag is invalidated, as a reversal becomes increasingly likely. When the price breaks out from the flag to the upside, the pattern is finished. This indicates that the market is about to make another impulse move in the trend direction. It forms when the price tumbles and then embarks on a modest rise.

The selloff is expected to continue after the consolidation. How to read the pattern: A bearish flag pattern has the same components as its bullish counterpart. However, everything points in the opposite direction. The market experiences a negative surprise shock, which results in a sharp decline. This is the flagpole. Following this decline, the price goes through a consolidation phase consisting of two parallel trendlines that point slightly upward.

This is the flag itself. The flag must retrace only a small portion of the trend, as an extended consolidation might lead to a reversal. The pattern is finished when the price breaks out from the flag to the downside.

An example of the bearish flag: Warning: Flag patterns can be quite dangerous due to the heightened volatility. Plus, they tend to be paired with unfavorable market conditions: slippage and wide spreads. Be very cautious if you decide to trade them. In this case, our dedicated flag pattern guide is the ideal place to advance your knowledge.

Bullish Pennant The bullish pennant looks like a short triangle bounded by two converging trend lines. It occurs in advancing markets and hints at a price move in the direction of the prior trend leg. How to read the pattern: Pennants are pretty similar to flags in their structure. They, too, are preceded by a strong upward move resembling a flagpole. After the upward move, buyers pause to catch their breath and the market begins consolidating. This is where the difference lies between the two patterns.

In the case of bullish pennants, the consolidation phase shows a less intensive effort to reverse the trend. Remember that flags usually form in high-volatility situations such as news releases. Traders often overreact to positive news; thus, the price jump is quickly met with aggressive short selling.

The great thing with pennants — at least from our experience — is that you can often catch the breakout from the pattern. This is because, from the higher chart perspective, the pennant is often a simple impulse move toward the trend. Unfortunately, the drawback is that trading pennants can be quite frustrating.

When you trade flags, you will be less likely to catch the breakout. Trailing stop protects profit. Lack of statistical proof. How to Trade? A higher timeframe chart is recommended as each trading setup requires some calculations based on the latest bar.

You should calculate The key number first. For the quotes with four digits after a dot, the critical value is the current Price multiplied by ten and then rounded. For the quotes with two digits after a dot, the key value is the current Price divided by ten and the rounded.

In both cases, the values have to be rounded. Trailing stop TSL is also applied to the orders and is set to 2. If this sounds complicated, see the example below. The current Price is 1.