As per my last idea (attached below), we were waiting for a new swing high to form around our upper red trendline to consider it our new trigger swing then buy on its break upward.
BAKEBNB formed that new swing high but 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?
Trigger => Waiting for a momentum candle close above the gray area to confirm the reversal.
Meanwhile, until the buy is activated, BAKEBNB would be overall bearish and can still dive inside the blue demand before going up, or even 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
BAKEBNB formed that new swing high but 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?
Trigger => Waiting for a momentum candle close above the gray area to confirm the reversal.
Meanwhile, until the buy is activated, BAKEBNB would be overall bearish and can still dive inside the blue demand before going up, or even 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
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal