Ashok Leyland Swing Trade 6( Profit 17500)

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312

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

 

 

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