petronet -looks bullish
https://www.tradingview.com/x/d50IBtDr/bullish signlas
1.price >3>18> 50 >200 EMA on daily and hourly chart
2. EMA s starting to fan out
3.symmetrical triangle outbreak
4. 3-6 , 12-26,50-100 MACD all are above signal lines and > 0 value
5. price reversal on 200 EMA leg
6. favourable RR ratio (2.5 for intial target 1 )
point of concern
1. price faced resisatance at 224 (previous resistance level) but was quickly suppoted by 16 day EMA and 219 pricelevel pivot ( 10 th nov and 7th dec 2022) and NO formation of three red candles (3 Consecutive candles indicate price reversal)
1.price >3>18> 50 >200 EMA on daily and hourly chart
2. EMA s starting to fan out
3.symmetrical triangle outbreak
4. 3-6 , 12-26,50-100 MACD all are above signal lines and > 0 value
5. price reversal on 200 EMA leg
6. favourable RR ratio (2.5 for intial target 1 )
point of concern
1. price faced resisatance at 224 (previous resistance level) but was quickly suppoted by 16 day EMA and 219 pricelevel pivot ( 10 th nov and 7th dec 2022) and NO formation of three red candles (3 Consecutive candles indicate price reversal)
Catatan
target 1 230 done .... more to comeCatatan
evening star has formed ...wait for correction to 225 before renteringCatatan
can enetr ay 225 level stop loss 220
Catatan
nearing second target of 240Catatan
target achieved .. might correct /consolidate for some timeCatatan
re enter at 226 target 240
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