- trend is up
- but markets closed in the red for 4 consecutive weeks
- swing low is at 10000
- this level is too far for SL
- we can consider 10850 as SL
- note that in past 2 years, weekly corrections have lasted for 8-10 weeks and more but have never resulted in a trend reversal
Alternatively one can use kplswing with N=5 as SL
Or N=10
- but markets closed in the red for 4 consecutive weeks
- swing low is at 10000
- this level is too far for SL
- we can consider 10850 as SL
- note that in past 2 years, weekly corrections have lasted for 8-10 weeks and more but have never resulted in a trend reversal
Alternatively one can use kplswing with N=5 as SL
Or N=10
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