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PLEX Analysis by @theSignalyst
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This is my fourth PLEX analysis.
OLD ANALYSIS: You can find my previous three here: (1) (2) (3)
NEW ANALYSIS:
As per my last two analysis, PLEX broke the red channel upward (2) then retested the gray area (3) and traded higher.
Then price rejected the 2.0 round number and traded lower for the correction phase to start.
on H4: from a long-term perspective PLEX is now overall bullish trading inside the blue rising broadening wedge pattern.
And it is currently approaching the lower blue trendline and orange zone, so we will be looking for trend-following buy setups.
Trigger => Since we are in a correction phase from a short-term perspective, we are waiting for the bulls to break above the last high and consolidation in gray to buy.
Meanwhile, until the buy is activated, PLEX can still trade lower to test the orange zone and blue trendline.
Good luck!
~Rich
