Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 EBAY has exhibited an overall bullish trend, trading above the orange and blue trendlines.
At present, EBAY is undergoing a correction phase and it is currently approaching a strong support zone 30 - 34
🏹 Thus, the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue and orange trendlines acting as a non-horizontal support.
📚 As per my trading style: As #EBAY approaches the lower red 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
It's like EBAY is walking down a hill (that's the correction phase) and is about to reach a flat spot where it can take a break before possibly walking back up the hill. That flat spot – our red circle zone – is where I'm looking to see if it's a good time to hop on for the potential ride back up. Remember, this is based on my style of trading, so it's always good to consider your own strategies and risk tolerance too!