Reaon for long
a) breakout pull back zone with all 4 indicators positive ( Rainbow, Renko, QQE and supertrend long)
these indicators are the speacific zone in the price action. confluence of these indicator along with price action like good engulfing candle ( in this case, it is bullish engulfing candle) indicating the bullishness.
b) breakout candle has good bullish volume candle and pull candle of bear candle has low bear volume,; This observation indicating the good bullishness in this stock. How so ever, there is proability to go lower also as it is below the 200 ema. Hence SL compulsory and mind the position sizing as the position sizing principles.
c) SL compulsory
a) breakout pull back zone with all 4 indicators positive ( Rainbow, Renko, QQE and supertrend long)
these indicators are the speacific zone in the price action. confluence of these indicator along with price action like good engulfing candle ( in this case, it is bullish engulfing candle) indicating the bullishness.
b) breakout candle has good bullish volume candle and pull candle of bear candle has low bear volume,; This observation indicating the good bullishness in this stock. How so ever, there is proability to go lower also as it is below the 200 ema. Hence SL compulsory and mind the position sizing as the position sizing principles.
c) SL compulsory
Trade closed: target reached