AUDCHF - Trading The Channel 🌙

Dec 12, 2023

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

📉AUDCHF has been overall bearish trading inside the falling channel in red, and it is currently approaching around the upper bound / trendline.

Moreover, the zone 0.59 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 red trendline acting as a non-horizontal resistance.

📚 As per my trading style:
As AUDCHF approaches the red 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