We are onto the 6th swing trade of Ashok Leyland
We can see that the resistance has changed in this case. But currently, we do not have any trade.
Now a DOJI has been formed so what we can do is wait for the top or bottom of the DOJI to be broken , that is if the high of DOJI is broken we buy with stop-loss at low of DOJI and if the low of the DOJI is broken we sell with the high of DOJI as stop-loss .
Now the top of the DOJI was broken so we bought it at 105.5 with a closing based stop-loss at the lowest point of DOJI.
Now we update our stop-loss to the previous consolidation level.
We can see that it is consolidating so we update our stop-loss to the low of the last green candle.
Now we have updated our stop-loss at the low of the consolidation level as if this level is breached the script will fall down very quickly.
As we can see our stop-loss was hit at 108.1.
VERDICT – PROFIT OF 17500
For further reference – Ashok Leyland Swing Trade 6