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BitcoinCrush

BCOUSD: Lots of confluence for upwards momentum

Long
Brent Crude Oil (OANDA:BCOUSD)  
BitcoinCrush Updated   
OANDA:BCOUSD   Brent Crude Oil
Head and Shoulders Support and Resistance Candlestick Analysis
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headandshoulders supportandresistance candlestick
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.
Comment:
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.
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