MATIC - Potential Bullish Reversal!
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MATIC is approaching a support area so we will be looking for buy setups on lower timeframes.
on H4: MATIC is forming a wedge pattern in red but the upper 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, MATIC would be overall bearish can still trade lower and dive inside the support till 0.350 in blue.
In this case, we will be looking for new buy setups to form.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
MATIC is approaching a support area so we will be looking for buy setups on lower timeframes.
on H4: MATIC is forming a wedge pattern in red but the upper 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, MATIC would be overall bearish can still trade lower and dive inside the support till 0.350 in blue.
In this case, we will be looking for new buy setups to form.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich