We are continuing our swing trading and are onto the trade number 12
Our stop-loss was hit during the previous trade and we reversed the trade by buying at 115.95 and the stop-loss at the support line.
As we can see the downtrend has been broken and we update our stop-loss to the low of the green candle before the consolidation area.
As we can see the wick of the red candle is huge which means there is selling pressure and the consolidation period is huge so we update the stop-loss at the consolidation level.
Now the higher bottom has been formed so we set our trailing stop-loss to the low of this higher bottom.
The previous resistance level was broken and would now act as the support so now we update our stop-loss at the level of the new support level.
Now we have updated our trailing stop-loss at the next resistance level which was broken.
Our stop-loss was hit at 127.95.
VERDICT – Profit of 84000.
For further reference – Ashok Leyland Swing Trade 12