CADCHF - Over-Sold Zone!

٢٥ سبتمبر ٢٠٢٢

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

CADCHF is overall bearish trading inside the orange channel, however, it is now approaching the lower orange trendline acting as a non-horizontal support zone.

Moreover, the zone 0.71 - 0.72 is a strong support zone .

So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support zone and lower orange trendline. (acting as non-horizontal support)

As per my trading style:
Since CADCHF is around the purple 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