Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 USDCHF has been bearish trading inside the falling red channel and it is currently approaching the lower bound / red trendline.
Moreover, the zone 0.878 - 0.885 is a strong support.
🏹 Thus, the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green support and lower red trendline acting as a non-horizontal support.
📚 As per my trading style:
As #USDCHF approaches the lower red circle zone, I will be looking for bullish reversal setups (like a double bottom 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
📈 USDCHF has been bearish trading inside the falling red channel and it is currently approaching the lower bound / red trendline.
Moreover, the zone 0.878 - 0.885 is a strong support.
🏹 Thus, the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green support and lower red trendline acting as a non-horizontal support.
📚 As per my trading style:
As #USDCHF approaches the lower red circle zone, I will be looking for bullish reversal setups (like a double bottom 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