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MICROSOFT - Trend-Following Setup!

Hello Trading Family, I found MICROSOFT chart interesting.

We can see that MICROSOFT is currently trading inside these two blue trendlines forming a rising channel.

And it is currently approaching a strong rejection/ support area.
I call it "War Zone", highlighted in Orange (circle).

The highlighted orange circle is a strong area to look for buy setups as it is the intersection of support in green and the lower blue trendline acting as non-horizontal support. (trend-following setup)

As per my trading style/plan:

Short-term: As MICROSOFT approaches the orange circle (area), I will be looking for bullish reversal setups on lower timeframes (like a double bottom, trendline break, and so on...)

Long-term: I will be waiting for a third swing high to form around the upper red trendline (projection in purple) for it to become valid then buy on this last swing high (gray area) break upward.

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

Good Luck

All Strategies Are Good; If Managed Properly!
~Rich

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