Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
NZDCHF has been overall bearish trading within the falling orange channel and it is currently retesting the upper bound / trendline.
Moreover, the zone 0.55 - 0.5575 is a strong resistance.
π So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper orange trendline acting as a non-horizontal resistance.
π As per my trading style:
As NZDCHF approaches the upper red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
Knowing that NZDCHF can still trade inside the resistance zone before going down.
π Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
NZDCHF has been overall bearish trading within the falling orange channel and it is currently retesting the upper bound / trendline.
Moreover, the zone 0.55 - 0.5575 is a strong resistance.
π So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper orange trendline acting as a non-horizontal resistance.
π As per my trading style:
As NZDCHF approaches the upper red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
Knowing that NZDCHF can still trade inside the resistance zone before going down.
π Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
cutt.ly/CRGPT