TOMOUSDT Major Trend Reversal Set-up
Updated
I expect the price action to be in early phase of the Major Trend Reversal.
Price has corrected or gave bear trend in a tight channel and not price is ranging.
As you can see that the low of the price is respected well. The Double Bottom formation is Higher Low Formation which is a good hint for a early reverasl.
When the price flips the red zone as the support then I will be confirmed that the reversal has started. Taking any trades before flipping the Red Zone would be a scalp for me not Swing Trade.
Plan you trade wisely.
Price has corrected or gave bear trend in a tight channel and not price is ranging.
As you can see that the low of the price is respected well. The Double Bottom formation is Higher Low Formation which is a good hint for a early reverasl.
When the price flips the red zone as the support then I will be confirmed that the reversal has started. Taking any trades before flipping the Red Zone would be a scalp for me not Swing Trade.
Plan you trade wisely.
Note
Price is breaking above the Red Zone. Todau we are likely to complete the breakout pullback on lower time frame. Marked the zone on 4H chart for pullback.
Note
Price broke above the Red Zone. It has compledted the Pullback and Showed good bull bars at the break out point. Possible levels of Resistance are marked in the Chart.
It is the first level of resistance
Measured move up from Recent Legs, 50% retracement is a major Resistance and previous swing Lower High.
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