We are onto the 8th trade of Swing Trading
Our last stop-loss was hit at the swing low . and we have no direction as of now to enter the trade.
As we can see the previous resistance level was broken in this case and thus the entry was taken at 120.1 with stop-loss at the low of the previous day green candle.
We can see the consolidation at current levels and have moved our stop-loss to the last swing high.
As we can see now that the script is now moving in an upward channel and thus we have our stop-loss as the yellow line of the channel.
Now as we can see the channel is broken so we set our stop-loss to the low of the previous candle.
We observe that the scrip has again entered the channel and has formed a DOJI. So now we update our stop-loss to the low of the DOJI.
As we can see DOJI is forming so we update our closing based stop-loss to the low of the latest candle. In this case our stop-loss was not hit as it was a closing basis stop-loss.
Now our stoploss has been hit at 126.6.
VERDICT – Profit of 45500.
For further reference – Ashok Leyland Swing Trade 8