Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on DAILY: Left Chart
NZDJPY is approaching a resistance zone so we will be looking for sell setups.
Knowing that NZDJPY can still trade higher inside the zone before going down.
That's why we don't sell blindly, we always zoom in to lower timeframes and wait for the bears to take over.
on H1: Right Chart
NZDJPY is forming a head and shoulders pattern but it is not ready to go yet.
Trigger => waiting for a momentum candle close below the gray neckline to sell.
Meanwhile, until the sell is activated, NZDJPY can still trade higher.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
on DAILY: Left Chart
NZDJPY is approaching a resistance zone so we will be looking for sell setups.
Knowing that NZDJPY can still trade higher inside the zone before going down.
That's why we don't sell blindly, we always zoom in to lower timeframes and wait for the bears to take over.
on H1: Right Chart
NZDJPY is forming a head and shoulders pattern but it is not ready to go yet.
Trigger => waiting for a momentum candle close below the gray neckline to sell.
Meanwhile, until the sell is activated, NZDJPY can still trade higher.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
www.RichTL.com
for 50% discount use coupon: BD2024
Instagram:
www.instagram.com/richthesignalyst
Telegram:
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
www.RichTL.com
for 50% discount use coupon: BD2024
Instagram:
www.instagram.com/richthesignalyst
Telegram:
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal