Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on Weekly: Left Chart
KCS is still struggling around support and round number 10.0 and since the price is above it, we will be looking for buy setups.
on Daily: Right Chart
KCS is formed a valid inverse head and shoulders pattern, but it is still not ready to go yet.
For the bulls to take over, we need a break above the gray neckline. In this case, a movement till 15.0 would be expected.
Meanwhile, the bears can still kick in and push KCS lower below 10.0
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
on Weekly: Left Chart
KCS is still struggling around support and round number 10.0 and since the price is above it, we will be looking for buy setups.
on Daily: Right Chart
KCS is formed a valid inverse head and shoulders pattern, but it is still not ready to go yet.
For the bulls to take over, we need a break above the gray neckline. In this case, a movement till 15.0 would be expected.
Meanwhile, the bears can still kick in and push KCS lower below 10.0
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich