Hello everyone, if you like the idea, do not forget to support with a like and follow.
FUN is overall bullish trading inside the brown channel. It is now sitting around the lower brown trendline, so we will be looking for trend-following buy setups.
Before we buy, we want the buyers to prove that they are taking over again.
Our upper blue trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, FUN would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
FUN is overall bullish trading inside the brown channel. It is now sitting around the lower brown trendline, so we will be looking for trend-following buy setups.
Before we buy, we want the buyers to prove that they are taking over again.
Our upper blue trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, FUN would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich