Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
🗒 GOOGL has been overall bearish from a medium-term perspective trading inside our red channel. However, it is currently approaching the lower blue trendline acting as a non-horizontal support.
Moreover, the zone 70.0 - 77.0 is a strong support and demand zone .
📌 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green demand zone, lower trendline in blue acting as support, and lower trendline in red acting as an oversold area.
📉 As per my trading style: As GOOGL approaches the lower purple 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