IDEA - Purple War Zone!

4 Mei 2022Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

IDEA is stuck inside a range between our two red trendlines, and it is currently approaching the lower bound / red trendline acting as a non-horizontal support.

Moreover, 0.1 is a strong support and round number.

The highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support (0.1) and red trendline. (acting as non-horizontal support)

As per my trading style:
As IDEA approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich