USTEC - Short-Term Pain, but...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈Long-term, USTEC has been overall bullish trading within the rising channel marked in orange.
This month, USTEC has been in a correction phase, retesting the lower bound of the channel.
Moreover, the green zone is a strong support zone.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of support and lower orange trendlines acting as non-horizontal support.
📚 As per my trading style:
As #USTEC is hovering around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
