NZDCHF - Potential Bearish Reversal!

18 พ.ค. 2022

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

NZDCHF is overall bearish trading inside the blue channel and now it is approaching the upper trendline acting as a non-horizontal resistance so we will be looking for sell setups on lower timeframes.

on M30: NZDCHF formed a valid channel in red but it is not ready to go yet.

before we sell, we want the bears to prove that they are strong enough to take over.

Trigger => Waiting for a momentum candle close below the last low in gray to sell.

Meanwhile, until the sell is activated, NZDCHF can still trade higher and break the blue channel upward. in this case a movement till the upper brown trendline would be expected.

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich