, , Dow Theory
This is a line chart of more than two years. The overall trend looks bearish. The Lower Tops and Lower Bottoms when connected forms a bearish trend. The entry level is the low of the previous low as depicted in the support level. The stop level is the level as per the previous high. The difference between the entry level and stop level is the risk taken. So my target covers the risk taken. My entry level is Rs 707.50, stop loss level is Rs 773.10 and Target is Rs 640.
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nice charting and discription..
Thank you.
Hi,
Put your stop loss slightly above the previous resistance level (HT).
Thank you. So in other words my stop loss would be Rs 825/- and target Rs 590/-.
Target should be always equal to (or slightly higher) than risk taken
Ok. Thank you.