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As per my previous idea (attached below) we were waiting for EURCHF to approach one of our Purple War Zones to look for setups.
EURCHF rejected our lower red trendline and traded higher. NOW WHAT?
Since EURCHF is still overall bearish trading inside the red channel, we will be looking for Trend-Following Sell Setups as it approaches the upper purple circle.
Zone 1: (around 1.10)
This highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper red trendline. (acting as non-horizontal resistance)
As per my trading style:
As EURCHF approaches the upper purple circle, I will be looking for reversal bearish 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
As per my previous idea (attached below) we were waiting for EURCHF to approach one of our Purple War Zones to look for setups.
EURCHF rejected our lower red trendline and traded higher. NOW WHAT?
Since EURCHF is still overall bearish trading inside the red channel, we will be looking for Trend-Following Sell Setups as it approaches the upper purple circle.
Zone 1: (around 1.10)
This highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper red trendline. (acting as non-horizontal resistance)
As per my trading style:
As EURCHF approaches the upper purple circle, I will be looking for reversal bearish 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
Comment:
PREVIOUS IDEA
