Matic Looks Ripe for a Bounce/Break Here

21 Ağu 2023

Traders,

Just browsing through the charts this morning and thought I'd throw out a trade opportunity. There are many but Matic looks especially juicy here. Of course, it's always a bit risky before a FED meeting/press conference (i.e.- Jackson Hole) but I am not offering trading advice. I just wanted to show you one of the many opportunities I have spotted this morning.

Here's the case for entry here if you are so inclined:

- That Yellow TL comes all the way from Jan. '21. It has NEVER been broken to the downside.
- Price rarely touches this level on the RSI. Even more rare, would be a break below.

Probability stands on the long side here.

Best,
Stew

22 Ağu 2023

Not

Traders,

Matic is now just under support but has not confirmed this move with another candle (or two - preferably). Additionally, you will see below it is resting on good support (black level) and still remains in deeply oversold territory.

Stew