Reason for long
a) consolidation breakout. the consolidation is one year 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).
c) Weekly breakout possibility
d) Price above point of control (POC)
SL compulsory as indicated in chart
a) consolidation breakout. the consolidation is one year 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).
c) Weekly breakout possibility
d) Price above point of control (POC)
SL compulsory as indicated in chart
Trade active