Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 NZDCHF has been overall bearish, trading within the falling red wedge pattern.
Currently, NZDCHF is undergoing a correction phase and it is currently hovering around the upper bound of the wedge.
Moreover, it is retesting the previous major low marked in green.
🏹 Thus, the highlighted red circle is a strong area to look for trend-following sell setups as it is the intersection of the green low and upper red trendline acting as a non-horizontal resistance.
📚 As per my trading style: As #NZDCHF 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
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