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Where should I place a stop-loss and take profit?

  1. Stop-loss: You can place a tight stop-loss a few pips (10-20) above the bearish candle formations. If the price moves above the bearish candle formation, the market is violating the candle formation and the premise of the trade. 
  2. Take-profit: Can be placed to ensure a risk-reward ratio of at least 1:2. Having a positive risk to reward ratio is one of the behaviours of profitable traders.