NWC - Potential Bullish Reversal!
Hello everyone, if you like the idea, do not forget to support with a like and follow.
NWC is overall bullish and approaching a support zone we will be looking for buy setups on lower timeframes.
on H4: NWC is forming a channel in blue 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, NWC would be overall bearish can still trade lower inside the green support before going up, in this case, we will be looking for new buy setups there at a better rate.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
NWC is overall bullish and approaching a support zone we will be looking for buy setups on lower timeframes.
on H4: NWC is forming a channel in blue 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, NWC would be overall bearish can still trade lower inside the green support before going up, in this case, we will be looking for new buy setups there at a better rate.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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.