BCN trade ideas
BEACON MINERALS BULL FLAG
Trade plan:
Evaluate price action on Mondays only for mid- long term play
Targets:
Bull flag measured move to 0.2
Why is it Bullish?
1. Stoch RSI on Weekly entering upside from Oversold
2. Price action has bounced off 50 MA on the Weekly
3. Price has closed above R3 Pivot on the Weekly and printed to 30th Dec 2020
4. Bullish pin bar reversal causing bounce from the 200 MA to the upside on the Daily
5. Bull flag forming on the weekly time frame
6. Bounce off the top of Weekly Bull Flag
What will make it Bearish?
1. Close below Weekly 100 MA
2. Close below Bull flag
3. Close below Weekly Pivot Point
