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TheSignalyst
Nov 11, 2022 10:11 AM

EURCAD - Trend-Following Sell Setup! 

Euro Fx/Canadian DollarFXCM

Description

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

EURCAD is still overall bearish from a long-term perspective trading inside the brown channel, and it is currently retesting the upper brown trendline.

Moreover, the zone 1.37 - 1.38 is a strong resistance zone .

So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance zone and upper brown trendline. (acting as non-horizontal resistance)

As per my trading style:
Since EURCAD is approaching the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

and of course, as it retests the blue support, I will be looking for buy setups.

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich
Comments
JoeChampion
i loved the work!
TheSignalyst
@JoeChampion, respect joe! thanks for your support
TradingView
TheSignalyst
@TradingView, Thank you so much TradingView team 🙏 you made my night :D salute
Tolberti
Well done here, amazing setup!
TheSignalyst
@Tolberti, thanks dear
hassanhussaintraders19
Ada/Usdt signal forecast also share plz
TheSignalyst
@hassanhussaintraders19, sure hopefully tomorrow. I just posted BTC analysis now, so you can an idea about the crypto market
Solldy
Sorry, mate, but you've had better ideas. I won't support it this time. I don't think all of the price ranges are accounted for. It's worth considering it again.
TheSignalyst
@Solldy, thank you for your feedback
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