Buy @ 592 - 1st Lot
AVWAP: 568
SL: 560
Early Exit: RS crossing below 50 EMA
AVWAP: 568
Supply zone: 614 to 625
Value Area
- Previous candle pattern bullish engulfing
- Price bounce bounced from Demand Zone, forming successive Pin Bar
- Reversal of RSI - Crossin 50 from below
- RS support @ 50 EMA
Triggers
- RS forming higher high, violating downward sloping trendline
- RS line crossing 50 EMA from below
- Pin Bar with enhanced volume
- RSI > 9 EMA @ VA
- Confluence of Price & RS
- Accumulation: Last 4 weeks, delivery volume in the uptrend
2nd lot confirmation
- Closing > 825
- Follow-through with higher enhanced volume.
- 21 days RS Breakout