Difference-between-PlaceTrade-and-ClosePosition-for-exits

Today I had some time to make my first steps in the WL Framework and look around a bit. Normally I don't code in C#, but that's no problem in principle. The sense of the strategy can be simply ignored.

I have a question that I'm sure can be answered quickly, but is not obvious to me at this point.
What are the significant differences between the three variants shown (PlaceTrade, ExitPosition, Conditional Exit).
Are the variants semantically the same?

Thank you very much for a short feedback.

CODE:

namespace WealthScript1 
{
    public class MyStrategy : UserStrategyBase
    {
      private EMA _ema4, _ema8,_ema16;
      private IndicatorBase indicator4,indicator8,indicator16;
      
        public override void Initialize(BarHistory bars)
        {
         indicator4  = _ema4  = new EMA(bars.Close, 4);
         indicator8  = _ema8  = new EMA(bars.Close, 8);
         indicator16 = _ema16 = new EMA(bars.Close, 16);
         
         PlotIndicator(indicator4, new WLColor(128, 0,128));
         PlotIndicator(indicator8, new WLColor(128, 128,0));
         PlotIndicator(indicator16, new WLColor(0, 128,128));
        }

        public override void Execute(BarHistory bars, int idx)
        {
            if (!HasOpenPosition(bars, PositionType.Long))
            {
            if(bars.Close[idx]   > _ema4[idx]
                  && _ema4[idx]  > _ema8[idx]
                  && _ema8[idx]  > _ema16[idx]) {
               PlaceTrade(bars, TransactionType.Buy, OrderType.Market);
            }
            }
            else
            {
            const double TP = 1.01;
            const double SL = 0.99;
            
            Position lp  = LastPosition;
            double tp    = TP * lp.EntryPrice;
            double sl    = SL * lp.EntryPrice;

            PlaceTrade(bars, TransactionType.Sell, OrderType.Limit, tp,"Sell at profit target");
            PlaceTrade(bars, TransactionType.Sell, OrderType.Stop, sl, "Sell at stop loss"); 
               
            //ClosePosition(lp, OrderType.Limit, tp, "Sell at profit target");
            //ClosePosition(lp, OrderType.Stop, sl,"Sell at stop loss");
            
            // Edited after posting. Alternatively using ClosePosition here too.
            //if (tp >= bars.Close[idx]) { ?! idx-1
            //   PlaceTrade(bars, TransactionType.Sell, OrderType.Market, 0, "Sell at profit target");
            //}
            //else if (sl <= bars.Close[idx]) { ?! idx-1
            //   PlaceTrade(bars, TransactionType.Sell, OrderType.Market, 0,"Sell at stop loss");
            //}         }
        }
    }
}