CHZ - Potential Bullish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow.
CHZ is sitting around strong demand in blue (2.50) so we will be looking for buy setups.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
on H4: CHZ is forming a channel in red but our 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, CHZ would be overall bearish can still trade lower till around the green demand zone (0.10)
In this case, we will be looking for new buy setups to form around it.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
