as a new trader , just wondering what approach people use. say you get into a trend that's going up nicely, and you enter on a new high BO with initial stop loss outside the swing low. a common setup... what if the share starts to range and does a few 'waves' horizontally. should you either:
-leave it alone, as the stop loss hasn't been hit and it may turn upward soon or
-since the share isn't trending upward anymore, exit if price is close enough to BE, or a loss of say 1/2 R will occur.
-leave it alone until a certain time expires or until the stop loss is hit
my question feels like a dummy question, but i'm just curious to know what are people's approach here.
(context: daily timeframe , trend trading)