Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
GBPUSD is has been overall bearish trading inside the falling brown channel, and it is currently sitting around the upper brown trendline. So we will be looking for sell setups.
Moreover, the blue zone is a strong resistance.
🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper brown trendline. (acting as non-horizontal resistance)
As per my trading style:
As GBPUSD is sitting around the purple 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
GBPUSD is has been overall bearish trading inside the falling brown channel, and it is currently sitting around the upper brown trendline. So we will be looking for sell setups.
Moreover, the blue zone is a strong resistance.
🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper brown trendline. (acting as non-horizontal resistance)
As per my trading style:
As GBPUSD is sitting around the purple 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