ANTONY WASTE, SWING PAPER TRADE
Above shown chart is of ANTONY WASTE in Daily Time Frame
The above path of the script can be read as " Ascending Triangular Pattern " .. for simplicity, let's see it a a staircase.
This script has come this far making HH and HL .. the current step of the staircase is where we can enter into a trade.
Four things to describe for a trade
For,
Entry Point - Any price between 516 Rs to 490 Rs seems good.
Stop Loss - 478 Rs price level should be considered as SL ( will be around 7 % if EP is 515 ).
489 Rs price level is also good to place SL .. depending on appetite.
Exp. Reward - I'm expecting 10 - 15 % , which should be enough for a swing trade.
Rest depends on the scenario.
Exit - Exit depends on individual, same as SL, either you can full exit at a point or you
can trail.
Caution : As this is Budget + Election period, a low capital deployed seems sensible approach.
Thank you.
The above path of the script can be read as " Ascending Triangular Pattern " .. for simplicity, let's see it a a staircase.
This script has come this far making HH and HL .. the current step of the staircase is where we can enter into a trade.
Four things to describe for a trade
- Entry Point
- Stop Loss
- Expected Reward
- Exit
For,
Entry Point - Any price between 516 Rs to 490 Rs seems good.
Stop Loss - 478 Rs price level should be considered as SL ( will be around 7 % if EP is 515 ).
489 Rs price level is also good to place SL .. depending on appetite.
Exp. Reward - I'm expecting 10 - 15 % , which should be enough for a swing trade.
Rest depends on the scenario.
Exit - Exit depends on individual, same as SL, either you can full exit at a point or you
can trail.
Caution : As this is Budget + Election period, a low capital deployed seems sensible approach.
Thank you.
Order cancelled
Sorry to update late, I closed this trade on the second red candle.Thank you.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.