NZDCHF - Potential Bearish Reversal!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
NZDCHF is overall bearish trading inside the blue channel and now it is approaching the upper trendline acting as a non-horizontal resistance so we will be looking for sell setups on lower timeframes.
on M30: NZDCHF formed a valid channel in red but it is not ready to go yet.
before we sell, we want the bears to prove that they are strong enough to take over.
Trigger => Waiting for a momentum candle close below the last low in gray to sell.
Meanwhile, until the sell is activated , NZDCHF can still trade higher and break the blue channel upward. in this case a movement till the upper brown trendline would be expected.
Always follow your trading plan regarding entry, risk management, and trade management .
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
