Reason for long
1. Market structure - bearish but reversal trade as volume picked up
2. Consolidation before the Breakout : 2 month consolidation
3. Support-Resistance levels: Entry near support
4. Supply-Demand zones: Demand zone as evident by volume
5. Location of 200MA or 200EMA: down trend as it is reversal trade
6. Overlap with a Fibonacci level : not applicable
7. Candlestick pattern and the size of candles : not applicable
8. Chart pattern: consolidation breakout trade
9. Volume expansion: not applicable as it is reversal trade
1. Market structure - bearish but reversal trade as volume picked up
2. Consolidation before the Breakout : 2 month consolidation
3. Support-Resistance levels: Entry near support
4. Supply-Demand zones: Demand zone as evident by volume
5. Location of 200MA or 200EMA: down trend as it is reversal trade
6. Overlap with a Fibonacci level : not applicable
7. Candlestick pattern and the size of candles : not applicable
8. Chart pattern: consolidation breakout trade
9. Volume expansion: not applicable as it is reversal trade
Trade closed: target reached