Reason 1: It is taking support at long time trendline
Reason 2: we could evident a channel pattern which look so strong from the past month.
Reason 3: CONFLUENCE The support line of channel pattern is meeting with long term trendline as you can see in chart.
Reason 4: Emerging of morning star candlesticks right away at the confluence.
Reason 5: we could also spot a RSI divergence in lower time frame (i.e) 30 min or 1 hr
It is purely for educational purpose and one can consider trading at their own risk.
Reason 2: we could evident a channel pattern which look so strong from the past month.
Reason 3: CONFLUENCE The support line of channel pattern is meeting with long term trendline as you can see in chart.
Reason 4: Emerging of morning star candlesticks right away at the confluence.
Reason 5: we could also spot a RSI divergence in lower time frame (i.e) 30 min or 1 hr
It is purely for educational purpose and one can consider trading at their own risk.
Trade stängt manuellt:
there was no morning star candlesticks formed at confluence
