Long BCO on possible pullback when the market opens
Updated
Brent has been on the run lately and is about to hit a major resistance. Regardless whether it will break the resistance or not the market open might present a short term opportunity.
My model suggests that a short term reversal to around 66.42 presents a good opportunity to enter a long until the 67.8 line with favourable risk/reward. I will be using this entry until mid New York Session on Monday, if the pullback did not occur until then the opportunity did not materialize for my system.
My model suggests that a short term reversal to around 66.42 presents a good opportunity to enter a long until the 67.8 line with favourable risk/reward. I will be using this entry until mid New York Session on Monday, if the pullback did not occur until then the opportunity did not materialize for my system.
Trade closed: target reached
Kind of a late update. Target reached mid last week
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