HDFC has been in a nice long term uptrend trending above 200 EMA, and is just given 13,62 EMA Crossover.
Also the price has broken up from a consolidation zone and confirmed a double bottom.
Long position may be initiated above 1737 with a target of 1800 and SL 1725
Also the price has broken up from a consolidation zone and confirmed a double bottom.
Long position may be initiated above 1737 with a target of 1800 and SL 1725
Trade active:
taken support at 1725 levels on hourly chart
Trade closed: stop reached:
However , if still in position may look for test of 62 ema on hourly chart .
Also there is a resistance turned support area , from where the prices can bounce upwards
Also there is a resistance turned support area , from where the prices can bounce upwards
Comment:
It took support at the above mentioned area and now almost touched the target
Comment:
Cheers to all who held the position and made some serious money :-)
Trading just boils down to getting hold of your emotions and following the plan.
WE must act on our fear and think rationally if the price is not moving in our desired direction and look for the reaction at support zones.This trade was a nice example of it.
Trading just boils down to getting hold of your emotions and following the plan.
WE must act on our fear and think rationally if the price is not moving in our desired direction and look for the reaction at support zones.This trade was a nice example of it.