Bottom of channel
XCN has reached the bottom of descending channel and could make a pull back to the middle. On hourly we can see a small tripple bottom and bullish divergence on few hourframes.
Place the stop loss under the channel and profit the midlle of the channel. Just an idea. What else can happen is that the channel support that has been made since summer does not hold and it falls lower and then retakes the channel again.
Place the stop loss under the channel and profit the midlle of the channel. Just an idea. What else can happen is that the channel support that has been made since summer does not hold and it falls lower and then retakes the channel again.
Note
Well it was not double bottom and does not look like tripple bottom either. If the support line holds, then trade is still active.Note
Well that escalated quickly. Target reached.Note
This thing is botted to the fullest, the moves look so weird.We are at the bottom of the channel again.
Personally if i would like to gamble i would open another long for the same targets, but as it came back so low, i would be cautious on this and it might take 1-2 days or 1-2 weeks to reach that high again.
Stop loss under 0.04761
TP1: 0.05800
Note
If we continiue the bulish days, then this might be a great long position once again
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