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Jan 18, 2024 1:17 PM

AxisBank: Hindsight Analysis Long

AXIS BANKNSE

Description

A Higher High Higher Low structure on price action is considered as an uptrend.
- In the Monthly chart, identify the first break of Higher High after a Lower High.
- Wait for Higher High retest and enter somewhere close to it.
- Cannot expect a stock to test the exact same value.
- Set SL as previous HL or in cases where there are other lows close by, choose the lowest one.
- Calculate the possible loss assuming the stock hits SL
- If you are OK with the calculated loss, enter.
- Trail the SL at every new Higher Low.
- Wait for breakdown of a Higher Low OR Target.
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