KCS - Two Possible Scenarios!

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

WEEKLY: Left Chart
KCS broke below our 10.0 support zone so we have got two possible scenarios now.

H1: Right Chart

Scenario 1: For the bulls to take over again and reclaim the support, we need a break above the 10.0 and last major high in gray. In this case a movement till the upper resistance 15.0 would be expected.

Scenario 2: Meanwhile, until the bulls take over as per scenario 1, the bears would be in control trading inside the red wedge pattern and a movement lower will be expected till the next support 5.0 - 7.0

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

TheSignalyst

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