remember, stop loss levels will vary among traders & investors based on their own unique trading style, risk tolerance, time horizon on the trade, etc… however, it is often a good idea to avoid letting a winning trade turn into a loser when at all possible.
for example, here’s the string of 60 minute charts on the current X long. X triggered a long entry on the breakout of this falling channel, then offered a chance to take full or partial profits at the first target that same day. the stock proceeded to move beyond T1 (which then became support) allowing stops to be moved up just below that level to assure a profit on the remaining shares. today, X is selling off like most everything else and is quickly approaching the break-out level which would be a 2nd objective stop level and assure a breakeven, or possibly a very small loss, depending on where one entered the trade. sometimes i will allow for a re-test of a recently broken trendline but in the case of X, it could be quite a while before prices fall back to test that down channel from above and is too far away for stop IMO. therefore, consider X a completed trade (stopped out) if prices fall below that horizontal line on the most recent chart below.
