USDCHF - Trend-Following Setup!

25 ส.ค. 2022

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

on DAILY: Left Chart
USDCHF is overall bearish and now retesting the brown trendline so we will be looking for sell setups.

Knowing that USDCHF can still trade higher till the green resistance zone before going lower.

That's why we don't sell blindly, we always zoom in to lower timeframes and look for the bears to take over.

on H1: Right Chart
USDCHF is forming a double top but it is not ready to go yet.

Trigger => waiting for a momentum candle close below the gray neckline to sell.

Meanwhile, until the sell is activated, USDCHF can still trade higher.

Which scenario do you think is more probable and why?

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich