MATIC - Top-Down Analysis!

9 de jun. de 2022

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

DAILY: Left Chart
MATIC is overall bearish trading inside our brown channel. For the bulls to take over from a long-term perspective, we need a break above the upper brown trendline and 1.0 round number.

Meanwhile, since we are approaching the lower brown trendline, we will be looking for buy setups on lower timeframes.

H4: Right Chart
MATIC formed a valid channel in red but it is not ready to go yet.

Trigger => Waiting for a momentum candle close above the last major high in gray to buy.

Meanwhile, until the buy is activated, MATIC can still trade lower till the lower blue support (blue arrow). In this case, we will be looking for new buy setups to form.

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich