USDCHF has been sliding within a falling channel 📉, keeping the broader outlook bearish. Yet, the pair is once again testing the 🟩 demand zone, an area that has acted as a strong base in the past.
If buyers manage to hold this level 💪, we could see a short-term rebound toward the upper bound of the channel.
For now, the plan is simple: while the macro bias stays bearish, this zone offers a potential window for trend-following longs before the sellers step back in.
⚠️ Risk management remains key, as a clean break below the zone would signal that bears 🐻 are tightening their grip.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
If buyers manage to hold this level 💪, we could see a short-term rebound toward the upper bound of the channel.
For now, the plan is simple: while the macro bias stays bearish, this zone offers a potential window for trend-following longs before the sellers step back in.
⚠️ Risk management remains key, as a clean break below the zone would signal that bears 🐻 are tightening their grip.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Join RichTL - Rule-Based Technical Analysis
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Trusted CFD Broker
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RichTL.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
