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
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
📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
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.
📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
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.