Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per our last EURCAD analysis, it rejected our blue support zone and traded higher.
What's next?
📈EURCAD has been overall bullish, trading within the rising channel, however it is currently retesting the upper bound of the channel.
Moreover, the red zone is a strong resistance zone.
🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the resistance and upper blue trendline acting as a non-horizontal resistance.
📚 As per my trading style:
As #EURCAD approaches the red circle, 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
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
As per our last EURCAD analysis, it rejected our blue support zone and traded higher.
What's next?
📈EURCAD has been overall bullish, trading within the rising channel, however it is currently retesting the upper bound of the channel.
Moreover, the red zone is a strong resistance zone.
🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the resistance and upper blue trendline acting as a non-horizontal resistance.
📚 As per my trading style:
As #EURCAD approaches the red circle, 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
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Trade Made Simple
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade Made Simple
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.