Best Practice for Stop Loss on 1% x 3 Daily P&F Chart

[Abdul Wasay-1744573211613]

Hi everyone,

I’m new to Point & Figure charts and currently using a 1% x 3 chart on a daily time frame. I’m a bit confused about the best way to handle stop losses in this setup.

Since the chart updates only after the end of the day, I’m not sure whether I should wait for the EOD confirmation of a reversal (like a double bottom sell) before taking action, or react earlier during the day.

My concern is that if I wait until the chart updates at the end of the day, the price might fall much more during the day and increase my loss.
But if I act based on intraday price movement, the price might reverse later and the double bottom sell pattern may not even appear on the daily chart by EOD.

Would appreciate any advice or best practices on how others handle stop losses in this kind of setup.

Thanks!