Long
BCPT Possible bullish move
A rounding bottom has defined very clearly. Once the price is outside the descending black trendline we would expect to see a strong bullish move, also as you can see price is already above ema 200 and wma 300 which is a good sign that the market is likely for it go higher, just likely.
That being said, we will wait for the price to be outside the trendline to procede in a long trade. I'll update my trade entry with expected TP and SL once the confirmation is given.
Good luck and If you liked this analysis please give me a like, thank you!!
That being said, we will wait for the price to be outside the trendline to procede in a long trade. I'll update my trade entry with expected TP and SL once the confirmation is given.
Good luck and If you liked this analysis please give me a like, thank you!!
Note
As we can see, price was unable to pull through the descending trendline. Therefore there's no trade until confirmation is given.
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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.