Greetings, Welcome back to Gems Series and apologies for the absence past few days! Today we are looking at Pastel (PSL). This coin will be seeing it's first bull market coming up. The price of the coin consolidated for a few months and since the breakout, it is currently 97% lower than ATH. While the price of the coin has been up and down, the MACD indicates...
W - Bearish MS - Bearish candle close - Price broke strong resistance zone D - Bw - Price will probably retest this s&d zone 4H - BW after a H&S
GBPCHF is showing sideways movement so we have drawn support and resistance levels to take buy-stop and sell-stop trades along with the stop losses.
Bulls are more likely to take over as the market is currently at a strong support zone in the higher timeframes
This is a general chart idea of PLS. I created trend channel up with a breakout in this accumulation zone setup. I set the Green line as the double top resistance break of structure range. Accounting for the breakout I set the levels with the gann boxx. I added a drop bounce area below in the lower golden zone.