NZDCHF - Follow the Trend!

26 giu

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

📈 NZDCHF has been overall bearish, trading within the falling red wedge pattern.

Currently, NZDCHF is undergoing a correction phase and it is currently hovering around the upper bound of the wedge.

Moreover, it is retesting the previous major low marked in green.

🏹 Thus, the highlighted red circle is a strong area to look for trend-following sell setups as it is the intersection of the green low and upper red trendline acting as a non-horizontal resistance.

📚 As per my trading style:
As #NZDCHF approaches the red 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