TheSignalyst

NZDCHF - Already Over-Bought β†˜οΈ

Short
TheSignalyst Updated   
FX:NZDCHF   New Zealand Dollar/Swiss Franc
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

πŸ“ˆ NZDCHF has been overall bullish, trading within the rising channel in blue.

However, it is currently approaching the upper bound of the channel again acting as a non-horizontal resistance.

Moreover, it is retesting a strong resistance zone at 0.55 - 0.552 marked in green.

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

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

πŸ“š 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

This analysis is done using RichTL
www.RichTL.com

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