LUNA - Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
DAILY: Left Chart
LUNA is overall bullish trading inside the blue channels.
Moreover, 50.0 - 55.0 is a strong demand zone .
So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green demand and lower blue trendline. (acting as non-horizontal support)
H4: Right Chart
LUNA is forming a channel in red but the 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, LUNA can still trade lower inside the demand zone .
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich