C98 - Two Possible Bullish Scenarios!Hello everyone, if you like the idea, do not forget to support with a like and follow.
C98 is overall bullish and now retesting a demand zone in green so we will be looking for buy setups on lower timeframes.
First Scenario: (purple projection)
on H4: C98 formed a valid inverse head and shoulders pattern but it is not ready to go yet. Before we buy, we want the buyers to take control again by breaking above the gray neckline.
Second Scenario: (gray projection)
on H4: C98 is trading inside our red channel so if it keeps trading lower, then we will be waiting for a new swing high to form around the upper trendline to consider it our last swing high then buy on its break upward.
Meanwhile, until the buy is activated , C98 would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich