CHENNPETRO for Swing Trading
Updated
Time-frame: Daily
Price broke out of EMA 50 and also crossed last swing high of the down trend.
After breaking out price is in pullback mode which formed long tailed pin bar.
By looking at the pin it is seen that price is taking support on EMA 50.
MACD also confirms up trend as it has crossed zero line.
Looks like it is end of down trend.
Price broke out of EMA 50 and also crossed last swing high of the down trend.
After breaking out price is in pullback mode which formed long tailed pin bar.
By looking at the pin it is seen that price is taking support on EMA 50.
MACD also confirms up trend as it has crossed zero line.
Looks like it is end of down trend.
Trade closed manually
Price opened above entry order and met the target, closed the order as entry order did not execute.
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