IDEA - Potential Bullish Reversal!

23 Apr 2022

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

IDEA is approaching a strong support and round number 0.1 so we will be looking for buy setups.

on H1: IDEA is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)

Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)

For the bulls to take over from a long-term perspective, we need a break above the upper blue zone.

Meanwhile, until the buy is activated, IDEA would be overall bearish and can still trade lower inside the green support zone .

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich