MITK - Top-Down Analysis!

Hello everyone, if you like the idea, do not forget to support with a like and follow.

WEEKLY: Right Chart
MITK is overall bullish and now approaching a support zone in green 12.0-13.0 so we will be looking for buy setups on lower timeframes.

DAILY: Left Chart
MITK 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.

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

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich