Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📉CHFJPY has been overall bullish trading inside the rising wedge in blue, and it is currently approaching around the upper bound / trendline.
Moreover, the zone 170.5 is a major previous high.
🏹 So the highlighted blue circle is a strong area to look for sell setups as it is the intersection of the green major high and upper blue trendline acting as a non-horizontal resistance.
📚 As per my trading style:
As CHFJPY approaches the blue 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
📉CHFJPY has been overall bullish trading inside the rising wedge in blue, and it is currently approaching around the upper bound / trendline.
Moreover, the zone 170.5 is a major previous high.
🏹 So the highlighted blue circle is a strong area to look for sell setups as it is the intersection of the green major high and upper blue trendline acting as a non-horizontal resistance.
📚 As per my trading style:
As CHFJPY approaches the blue 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