Hello everyone, if you like the idea, do not forget to support with a like and follow.
IDEA is sitting around daily support so we will be looking for buy setups on lower timeframes.
on H4: IDEA is forming a symmetrical triangle in red but the 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, IDEA would be overall bearish can still trade lower till the green support before going up. In this case we will be looking for new buy setups to form.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
IDEA is sitting around daily support so we will be looking for buy setups on lower timeframes.
on H4: IDEA is forming a symmetrical triangle in red but the 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, IDEA would be overall bearish can still trade lower till the green support before going up. In this case we will be looking for new buy setups to form.
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
Best CFD broker
cutt.ly/TickmillReal