(KCS Coin) Kucoin Price - Trend-Following Setup!

(KCS Coin) Kucoin Price - Trend-Following Setup!

KCS broke our gray resistance zone and is now diving back below it
As per my trading plan, here are the two possible scenarios I am looking for:

1- Bullish Continuation:

In this case, we need the bulls to break the orange flag pattern upward and above the gray area for another bullish impulse movement to start.

2- Deep Correction:

Until the bulls take over as per scenario 1, the bears can still push lower to the 15.0 - 16.0 support zone and form multiple swing highs around the upper trendline before breaking it upward.

Which scenario do you think is more likely to happen? and Why?

What Is KCS? KCS Price

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!

~Rich

Richard Nasr

Richard Nasr

- Full-time Trader, Coach, and Founder of theSignalyst with 400+ Students Worldwide.
- Founder of RichTL, which is the first and only indicator of its kind to help traders make Objective Technical Analysis.
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- Featured on Influencive as one of the TOP 10 Forex Mentors in 2021
- Featured on many websites like Yahoo!, Market Watch, and Digital Journal