After a rising window , price consolidated for a couple of weeks , and then a nice breakout , which coincided with the down sloping trendline and the 50 EMA . Longs may be initiated for a swing target of 180 with a stoploss around 153.Also the price has crossed its 200 EMA , though closed below it.
Price has moved in our favor .Stoploss revised to 160.9 based on consolidation on hourly chart
price has crossed previous day high 164.1 and made a new high of 164.3
Prices took support at the 13 period EMA on hourly chart .
Trade closed manually:
I had closed the trade as the prices closed below the 13 ema and a sort of head and shoulders was formed on the hourly chart.Though was able to be in green :-)
If prices find support at the 62 ema then we may re-enter long positions
Seems it took support at 62 ema,we may re enter once it closes above the 62 ema and/or the green trendline