GOOGL - After every Storm, there is a Rainbow đ
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
đ GOOGL has been overall bullish, trading within the rising rainbow wedge pattern.
Currently, GOOGL is in a storm đȘ/ correction phase and it is approaching the lower bound of the wedge acting as a non-horizontal support.
Moreover, it is retesting a strong support zone at $128 marked in blue.
đč Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue support and lower rainbow trendline.
đ As per my trading style:
As #GOOGL is around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
đ Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
đ GOOGL has been overall bullish, trading within the rising rainbow wedge pattern.
Currently, GOOGL is in a storm đȘ/ correction phase and it is approaching the lower bound of the wedge acting as a non-horizontal support.
Moreover, it is retesting a strong support zone at $128 marked in blue.
đč Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue support and lower rainbow trendline.
đ As per my trading style:
As #GOOGL is around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
đ Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trade stÀngt: mÄlet nÄtt