Swing Trading using SMA
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Indicator - Simple Moving Average with length 34 days and source close price
Once plotted, we have to identify an alert candle
Characteristic of an alert candle are
1) It touches the SMA
2) Close Price is greater than SMA Value
3) Low Price is lower than SMA Value
4) Close Price is greater than SMA Value (green candle)
Also note that the stock is in uptrend - Minimum 10 previous candles formed above SMA line
Entry - Buy at High of Alert Candle
Exit
Stop Loss - Lowest of the Low ( Lowest price in past 3 days)
R = Entry - Stop Loss
Target 1 ( 50% ) - 1:1 i.e., Buy Price + R
Target 2 ( 50%) - 1:3 i.e, Buy Price + 3R
Once Target 1 is achieved move SL to Buy Price
Once plotted, we have to identify an alert candle
Characteristic of an alert candle are
1) It touches the SMA
2) Close Price is greater than SMA Value
3) Low Price is lower than SMA Value
4) Close Price is greater than SMA Value (green candle)
Also note that the stock is in uptrend - Minimum 10 previous candles formed above SMA line
Entry - Buy at High of Alert Candle
Exit
Stop Loss - Lowest of the Low ( Lowest price in past 3 days)
R = Entry - Stop Loss
Target 1 ( 50% ) - 1:1 i.e., Buy Price + R
Target 2 ( 50%) - 1:3 i.e, Buy Price + 3R
Once Target 1 is achieved move SL to Buy Price
Commentaire
Stock : NMDCDate: 26th March- Alert Candle Formed
Entry@128.80
SL 122
R = 6.8
Target 1 - 135.6 ( achieved)
Target 2 - 149.2 ( not achieved) - Exit 50% shares at 135.4 (improvisation after 2R, moved the SL to last day Closing Price )
Trade fermée: cible de profit atteinte
Target Reached for 2nd position. Entry @140.25
Exit @145.10
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