PEPE - Are You Ready?📈

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈 PEPE has been overall bullish, trading within the rising broadening wedge pattern in green.

Currently, PEPE is undergoing a correction phase and it is currently approaching the lower bound of the wedge.

Moreover, it is retesting massive demand zone marked in red.

🏹 Thus, the highlighted blue circle is a strong area to look for trend-following buy setups as it is the intersection of the red demand zone and lower green trendline acting as a non-horizontal support.

📚 As per my trading style:
As #PEPE approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Comment:

As anticipated, PEPE is nearing the blue circle zone so we will be looking for trend-following buy setups on lower timeframes.

in the 1H timeframe, PEPE has been in a correction phase trading within the falling red channel.

For the bulls to take over, and start the next impulse movement, a break above the upper red trendline is needed. (preferably after forming a new lower major high)

Trade active

Trade closed: target reached: