NZDCHF - Following My Friend - The Trend 👬

29 nov. 2023

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

NZDCHF has been overall bearish trading within the falling orange channel and it is currently retesting the upper bound / trendline.

Moreover, the zone 0.55 - 0.5575 is a strong resistance.

📉 So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper orange trendline acting as a non-horizontal resistance.

📚 As per my trading style:
As NZDCHF approaches the upper red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

Knowing that NZDCHF can still trade inside the resistance zone before going down.

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich