OMGUSDT is overall bearish trading inside the blue channel

OMGUSDT is overall bearish trading inside the blue channel

however, it is now now approaching the lower blue trendline acting as non-horizontal support and oversold area.

 


Moreover, the green area is a demand and support zone. So the highlighted purple circle is a very strong area to look for buy setups as it is the intersection of demand zone in green and the blue trendline.


As per my trading style:

I will be looking for potential bullish reversal setups on lower timeframes (like a double bottom , trendline break , and so on...) Always follow your trading plan regarding entry, risk management, and trade management.

 

Richard Nasr

Richard Nasr

- Full-time Trader, Coach, and Founder of theSignalyst with 400+ Students Worldwide.
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