BANDBTC Just Bounced From a Very Strong Support Zone

Hey all, here’s another entry on my tradingview series called 'Quick Updates'.

BAND Just hit this very strong support zone for the fourth time. We can go in for a nice support and resistance trade set-up. I used a trendline this time as resistance instead of a horizontal resistance zone that I normally use, because the bulls has been facing more difficulties recently. There is slowly a descending triangle pattern forming, to create the maximum chance of getting a successful trade out of this I decided to place the take profit slightly more conservatively.

--- What is The Quick Update Series All About? ---
I have started a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will contain a brief explanation with clear and clean charts in order to keep the velocity up and make sure you get to see the opportunities as fast as possible.

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- Trading Guru

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!