EURCHF - Wait For The Trigger!

17 Okt 2022

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

on DAILY: Left Chart
EURCHF is approaching a resistance zone in blue so we will be looking for sell setups.

Knowing that EURCHF 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 M30: Right Chart
EURCHF is forming a double top 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, EURCHF 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