GOOGL - After every Storm, there is a Rainbow 🌈

5 Mar 2024

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

📈 GOOGL has been overall bullish, trading within the rising rainbow wedge pattern.

Currently, GOOGL is in a storm 🌪/ 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.

🏹 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.

📚 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...)

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

12 Nis 2024

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