Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
NWC is overall bearish trading inside the red channel.
However, it is now approaching a strong demand zone in green and the lower trendline in red so we will be looking for buy setups.
For the bulls to take over, and start a correction, we need a break above the gray zone.
Meanwhile, until the buy is activated, NWC would be overall bearish and can still trade lower inside the green demand zone where we will be looking for new buy setups.
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