$COS – PRICE ACTION INDICATES A POTENTIAL REVERSAL AS IT BREAKS ABOVE THE 7-HOUR AND 25-HOUR SMAS

Trading Plan LONG $COS

Entry: 0.00162-0.00165

SL: 0.00155

TP: 0.00175

TP: 0.00185

TP: 0.00200

THE CURRENT MARKET SENTIMENT OF EXTREME FEAR WITH A SENTIMENT SCORE OF 10 INDICATES THAT THE MARKET IS OVERSOLD AND DUE FOR A CORRECTION. THE 1-HOUR RSI OF 57.3 IS NOT OVERBOUGHT, LEAVING ROOM FOR FURTHER UPSIDE. THE 7-HOUR AND 25-HOUR SMAS ARE ALSO PROVIDING SUPPORT AT THE 0.0016 LEVEL, WHICH IS A KEY AREA OF STRUCTURE. WITH THE PRICE ACTION BREAKING ABOVE THESE SMAS, IT INDICATES THAT THE MOMENTUM IS SHIFTING IN FAVOR OF THE BULLS. THIS TRADE MAKES SENSE AS IT ALLOWS US TO RIDE THE POTENTIAL REVERSAL WAVE, TAKING ADVANTAGE