PALANTIR - Reversal Setup Soon!PALANTIR is overall bearish, trading below our red trendline but since it is approaching a strong demand zone in green we will be looking for buy setups to catch the next impulse.
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?
Our red 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, PALANTIR would be overall bearish and can still test the green demand or break it downward.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
