KCS - Long-Term and Short-Term Scenarios!

4 сент. 2022 г.Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

KCS is still struggling around support and round number 9.0 - 10.0 support, so we will be looking for buy setups.

From a long-term perspective: (Left Chart)

KCS formed a valid inverse head and shoulders pattern, but it is still not ready to go yet.

For the bulls to take over, we need a break above the gray neckline. In this case, a movement till 15.0 would be expected.

From a short-term perspective: (Right Chart)

For the bulls to take over, we need a break above the blue zone.

Meanwhile, we are bearish and if the bears manage to push below 9.0 and previous low, then we will be expecting further movement downward.

Which scenario do you think is more probable and why?

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich