1.price >3>18> 50 >200 EMA on daily and hourly chart
2. EMA s starting to fan out
3.symmetrical triangle outbreak
4. 3-6 , 12-26,50-100 MACD all are above signal lines and > 0 value
5. price reversal on 200 EMA leg
6. favourable RR ratio (2.5 for intial target 1 )
point of concern
1. price faced resisatance at 224 (previous resistance level) but was quickly suppoted by 16 day EMA and 219 pricelevel pivot ( 10 th nov and 7th dec 2022) and NO formation of three red candles (3 Consecutive candles indicate price reversal)
Comment:
target 1 230 done .... more to come
Comment:
evening star has formed ...wait for correction to 225 before rentering
Comment:
can enetr ay 225 level
stop loss 220
stop loss 220
Comment:
nearing second target of 240
Comment:
target achieved .. might correct /consolidate for some time
Comment:
re enter at 226
target 240
target 240