KCS - Trend-Following Buy Setup!

Apr 15, 2022

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

KCS broke our gray resistance zone and is now diving back below it.

As per my trading plan, here are the two possible scenarios I am looking for:

1- Bullish Continuation:
In this case, we need the bulls to break the orange flag pattern upward and above the gray area for another bullish impulse movement to start.

2- Deep Correction:
Until the bulls take over as per scenario 1, the bears can still push lower to the 15.0 - 16.0 support zone and form multiple swing highs around the upper trendline before breaking it upward.

Which scenario do you think is more likely to happen? and Why?

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich