NWC - Trend-Following Setup!

May 4, 2022

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

NWC is stuck inside a range between 0.15 and 0.40 and it is currently approaching the lower bound 0.15 which is a strong weekly demand zone so we will be looking for buy setups.

on DAILY: NWC is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)

Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)

Then for the bulls to take over from a long-term perspective, we need a break above the 0.4 resistance.

Meanwhile, until the buy is activated, NWC can still trade lower inside the green demand zone.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich