EURAUD - Trading the Range 📦

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈 EURAUD has been overall bullish, trading within the flat rising channel in red.

At present, EURAUD is approaching the upper bound of the channel acting as an over-bought zone.

Moreover, it is retesting the upper bound of the short-term channel marked in blue.

🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper blue and red trendlines.

📚 As per my trading style:
As #EURAUD approaches the circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Trade closed: target reached: