NZDCHF - Already Over-Bought ↘️

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

📈 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.

📚 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...)

📚 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