TheSignalyst

PEPE - Are You Ready?πŸ“ˆ

TheSignalyst Updated   
KUCOIN:PEPEUSDT   Pepe / Tether
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

πŸ“ˆ PEPE has been overall bullish, trading within the rising broadening wedge pattern in green.

Currently, PEPE is undergoing a correction phase and it is currently approaching the lower bound of the wedge.

Moreover, it is retesting massive demand zone marked in red.

🏹 Thus, the highlighted blue circle is a strong area to look for trend-following buy setups as it is the intersection of the red demand zone and lower green trendline acting as a non-horizontal support.

πŸ“š As per my trading style:
As #PEPE approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

πŸ“š Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich
Comment:
As anticipated, PEPE is nearing the blue circle zone so we will be looking for trend-following buy setups on lower timeframes.
in the 1H timeframe, PEPE has been in a correction phase trading within the falling red channel.

For the bulls to take over, and start the next impulse movement, a break above the upper red trendline is needed. (preferably after forming a new lower major high)
Trade active
Trade closed: target reached:

Trading Made Simple; and Rule-Based
www.RichTL.com

Instagram:
www.instagram.com/richthesignalyst

Telegram:
www.t.me/thesignalyst

Best CFD broker
cutt.ly/TickmillReal
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.