Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
๐ USDCHF has been overall bearish, trading within the falling channel in blue.
Currently, USDCHF is approaching the upper bound of the channel acting as a non-horizontal resistance.
Moreover, it is retesting a resistance marked in green.
๐น Thus, the highlighted blue circle is a strong area to look for sell setups as it is the intersection of the blue trendline and green resistance.
๐ As per my trading style:
As #USDCHF approaches the blue circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
๐ Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
๐ USDCHF has been overall bearish, trading within the falling channel in blue.
Currently, USDCHF is approaching the upper bound of the channel acting as a non-horizontal resistance.
Moreover, it is retesting a resistance marked in green.
๐น Thus, the highlighted blue circle is a strong area to look for sell setups as it is the intersection of the blue trendline and green resistance.
๐ As per my trading style:
As #USDCHF approaches the blue circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
๐ Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich