Reason for long
a) consolidation breakout. the consolidation is one month consolidation and hence there is a possibility of wave 3 and wave 4 as per elliot wave theory.
b) 5 point indications are positive: first point: QQE positive: 2nd point: Renko positive; 3rd point: Rainbow positive: 4th point: Super trend positive and 5th point: super vwap positve (considering flase high as swing high point).Super trend just broke high
c) Weekly breakout possibility
SL compulsory as indicated in chart
volume is low and hence there is probability to continue as consolidation for another 2 months
a) consolidation breakout. the consolidation is one month consolidation and hence there is a possibility of wave 3 and wave 4 as per elliot wave theory.
b) 5 point indications are positive: first point: QQE positive: 2nd point: Renko positive; 3rd point: Rainbow positive: 4th point: Super trend positive and 5th point: super vwap positve (considering flase high as swing high point).Super trend just broke high
c) Weekly breakout possibility
SL compulsory as indicated in chart
volume is low and hence there is probability to continue as consolidation for another 2 months
Trade closed: stop reached