AUDCAD - Trend-Following Sell Setup!
Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
AUDCAD is overall bearish from a long-term perspective trading inside the brown channel, and it is currently retesting the upper brown trendline.
Moreover, the zone 0.91 is a strong resistance zone .
So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance zone and upper brown trendline. (acting as non-horizontal resistance)
As per my trading style:
As AUDCAD approaches the purple 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
AUDCAD is overall bearish from a long-term perspective trading inside the brown channel, and it is currently retesting the upper brown trendline.
Moreover, the zone 0.91 is a strong resistance zone .
So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance zone and upper brown trendline. (acting as non-horizontal resistance)
As per my trading style:
As AUDCAD approaches the purple 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
Trading Made Simple; and Rule-Based
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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