$POL Hello Binance Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈POL has been overall bearish trading within the falling channel marked in blue.
Currently, it is approaching the lower bound of the channel.
Moreover, the purple zone is a strong structure and demand.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of support and lower trendline acting as a non-horizontal support.
📚 As per my trading style:
As
#POL approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
In parallel, for the bulls to take over long-term, a break above the upper blue trendline is needed.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich