Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
NWC is sitting around a strong demand zone in green so we will be looking for buy setups.
on DAILY: NWC is forming a channel in red and a double bottom but it is not ready to go yet.
Trigger => Waiting for a momentum candle close above the last high in gray to buy.
Meanwhile, until the buy is activated, NWC would be overall bearish and can still trade lower inside the green demand zone.
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
NWC is sitting around a strong demand zone in green so we will be looking for buy setups.
on DAILY: NWC is forming a channel in red and a double bottom but it is not ready to go yet.
Trigger => Waiting for a momentum candle close above the last high in gray to buy.
Meanwhile, until the buy is activated, NWC would be overall bearish and can still trade lower inside the green demand zone.
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
This analysis is done using RichTL
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Support Bright Ideas Through Decentralised Crowdfunding
ideaology.io
Buy CRGPT on Uniswap
cutt.ly/CRGPT