Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
π PEPE has been overall bullish, trading within the rising broadening wedge pattern in green.
Currently, PEPE is undergoing a correction phase and it is currently approaching the lower bound of the wedge.
Moreover, it is retesting massive demand zone marked in red.
πΉ Thus, the highlighted blue circle is a strong area to look for trend-following buy setups as it is the intersection of the red demand zone and lower green trendline acting as a non-horizontal support.
π As per my trading style:
As #PEPE approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
π Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
π PEPE has been overall bullish, trading within the rising broadening wedge pattern in green.
Currently, PEPE is undergoing a correction phase and it is currently approaching the lower bound of the wedge.
Moreover, it is retesting massive demand zone marked in red.
πΉ Thus, the highlighted blue circle is a strong area to look for trend-following buy setups as it is the intersection of the red demand zone and lower green trendline acting as a non-horizontal support.
π As per my trading style:
As #PEPE approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
π Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trade active
Trade closed: target reached:
72 hours left for the 33% discount!
Use Coupon: TV6 on www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Use Coupon: TV6 on www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
For the bulls to take over, and start the next impulse movement, a break above the upper red trendline is needed. (preferably after forming a new lower major high)