Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
EURCHF is overall bearish from a long-term perspective trading inside the red falling broadening wedge, and it is currently retesting the upper red trendline.
Moreover, the zone 1.0 is a strong round number and previous major low.
So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance zone and upper red trendline. (acting as non-horizontal resistance)
As per my trading style:
As EURCHF approaches 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
EURCHF is overall bearish from a long-term perspective trading inside the red falling broadening wedge, and it is currently retesting the upper red trendline.
Moreover, the zone 1.0 is a strong round number and previous major low.
So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance zone and upper red trendline. (acting as non-horizontal resistance)
As per my trading style:
As EURCHF approaches 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