Hello everyone, if you like the idea, do not forget to support with a like and follow.
TEL is sitting around a strong demand zone in green so we will be looking for buy setups.
Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right?
on H4: TEL is forming a channel in red but our 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, TEL would be overall bearish can still trade lower till around the 0.005 before going up.
Good luck!
All Strategies Are Good; If Managed Properly! ~Rich
@testertje777, sorry about that, typing mistake and I tried to edit it but it was too late.
testertje777
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@TheSignalyst, No problem, just wanted to let you know that you have made that mistake a few times already in your recent ideas :-)
TheSignalyst
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@testertje777, oupss! thank you for letting me know. I will be more careful moving forward!
hello36992
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The market is currently controlled by BTC so breakout trading is short-lived. Can everyone please just remember this before getting overly bullish. Will tel rise from the ashes? Absolutely! Will it be soon? Absolutely not!
credexconsulting
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@hello36992, Not correct. A lot of short positions being liquidated in small cap alt coins, spikes occurring. Sign of alt coin decoupling and major bullish reversals imminent.