Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 OP has been overall bullish, trading within the rising broadening wedge pattern in red.
Currently, OP is undergoing a correction phase and it is currently approaching the lower red trendline.
Moreover, it is retesting a strong support zone marked in blue.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline acting as a non-horizontal support.
📚 As per my trading style:
As #OP approaches the blue 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
📈 OP has been overall bullish, trading within the rising broadening wedge pattern in red.
Currently, OP is undergoing a correction phase and it is currently approaching the lower red trendline.
Moreover, it is retesting a strong support zone marked in blue.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline acting as a non-horizontal support.
📚 As per my trading style:
As #OP approaches the blue 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