BCOUSD: Lots of confluence for upwards momentum
Updated
4H BCOUSD: A lot of confluence for upwards momentum
- Inverse H&S on the daily time frame
- Broke resistance, now support at 64.626
- Hammer / Morning Star on the 200 EMA and the support level at 64.626 (4H)
- Also a Hammer candle on the Daily time frame
- ATR on the 2D timeframe going down, while price went up
- Fridays hammers' wicks took out the stop losses from the last two lows of the previous week
Trade active
Taking partial (50%) profits here. And moving stop loss to $66.40.Note
Moving Stop Loss up to $70.00 as we approach our main target of $75.50.Trade closed: target reached
Closed this trade as our target of $75.50 has been reached.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.