EURUSD - Getting Over-Bought?Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈EURUSD has been overall bullish trading within the rising channels marked in red and blue. However, it is currently retesting the upper bound of the channels.
Moreover, the orange zone is a major daily high.
🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper blue/red trendlines and daily high.
📚 As per my trading style:
As #EURUSD 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
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
