LDO - Following The Wedge 🌙

24 בינו׳

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

📈 LDO has been overall bullish, trading within the rising broadening wedge in blue.

At present, LDO is undergoing a correction phase and it is currently approaching the lower blue trendline acting as a non-horizontal support.

Moreover, it is retesting a strong support zone marked in green.

🏹 Thus, the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline acting as a non-horizontal support.

📚 As per my trading style:
As #LDO approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich