It is been observed that the price action is consolidated within a triangle formation on the daily chart and now the price action breaking out from the triangle indicating strong bullishness and buyers dominance over the price action. Buyers shall further take price action higher and continue the trend.
This trade stopped out ! Why there is no mention stop loss hit , if the targets achieved are mentioned......
NeeteshJain
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@pro1988, I understand your point and it did hit to stop loss but never gone too much down as it was at the strong support zone, which I posted the same on twitter. It was not updated here as no asked about the same.
I generally update a new stop loss in case anyone asks or interested in trade setup in order to protect their capital.
The above stock is still trending up and it shall further move upside to 800 levels once it closes above 785 levels.
I appreciate your follow up and feedback on the same,
Well, if the stop loss is hit we are out of the trade ! right ? so how does the follow up help a trader .....should he take a new entry ?and if yes, what price.....
NeeteshJain
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@pro1988, Stoploss provides an exit point to protect our capital, it does not guarantee any right or wrong exit. If we feel that the chart pattern is strong and shall work well in future irrespective that the stop loss is been hit, we could change the stop loss as per our risk capacity in order to stay in a good technical trade. This is what happens here, we expected a different chart pattern output but it did not go as per the given chart pattern and it changed. But the changed chart pattern was also positive due to that we did not change our positions as the chart was looking good, hence we changed our stop loss to be in a good trade. Regards
This trade stopped out ! Why there is no mention stop loss hit , if the targets achieved are mentioned......