Long
MAHINDCIE, A morning star appeared
Updated
if you club the price action of the two recent candles (22nd and 23rd) as one single candle i think we have a valid morning star.
1. price is above long term moving averages of 150 and 200 SMA ✔
2. Price is not above short term moving average of 50 SMA ❌
3. Uptick in RSI ✔
4. MACD Ok ✔
5. price breaking out from triangle pattern ABC ✔
6. above average volumes ❌
It looks like a good risk-reward trade. More conservative approach maybe to see better volumes.
Price penetrating and closing below the lower parallel line of the pitchfork will mean the idea has failed.
**I will be posting ideas for my own journal-ing and learning sake and to hopefully spark up educational discussions. Please do not construe them as recommendations as I am just an amateur here to learn :)
1. price is above long term moving averages of 150 and 200 SMA ✔
2. Price is not above short term moving average of 50 SMA ❌
3. Uptick in RSI ✔
4. MACD Ok ✔
5. price breaking out from triangle pattern ABC ✔
6. above average volumes ❌
It looks like a good risk-reward trade. More conservative approach maybe to see better volumes.
Price penetrating and closing below the lower parallel line of the pitchfork will mean the idea has failed.
**I will be posting ideas for my own journal-ing and learning sake and to hopefully spark up educational discussions. Please do not construe them as recommendations as I am just an amateur here to learn :)
Trade active
Target: 264SL: 224
Trade active
Booked 55% quantity at 268. Holding rest for 290.SL 245
Trade closed: target reached
position closed
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