REEF - Buckle Up!

REEF is overall bullish, trading inside our blue channel. and since it is currently sitting around the lower blue trendline, we will be looking for trend-following buy setups.

Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right?

Our upper red 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)

Meanwhile, until the buy is activated, REEF would be overall bearish (from a short-term perspective) and can still trade lower.

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich