LSE:TLW Swing Trade
This swing trade was scanned 2 days ago but I wanted to see a 2nd bullish bar to form, to confirm the support.
Friday produced a “Morning Star Reversal” pattern at support (a reliable bullish signal)
– ENTER: Above Friday’s candle
– STOP: beneath 1471 (prior resistance has now been confirmed as support)
– 1st TARGET: Recent swing high and round number of 1600
– 2nd TARGET: The larger pattern appears to be an ascending triangle forming which projects a target around 1720
ADDITIONAL CONFLUENCES:
– Sector (Oil & Gas producers) also produces the same swing trade pattern
– The stock is outperforming FTSE100
– Ichimoku chart is bullish with price and Chikou Span above Kumo
