GBPCHF - Looking For Sell Setups ⬇️

10 Mei 2023Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

GBPCHF is stuck inside a range in the shape of a symmetrical triangle so we have been trading the range as per my last three analysis (attached on the chart)

After rejecting the lower bound / orange trendline, GBPCHF is now approaching the upper orange trendline.

Now GBPCHF is approaching the upper trendline, so we will be looking for sell setups.

Moreover, the blue zone is a strong resistance.

🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper orange trendline. (acting as non-horizontal resistance)

As per my trading style:
As GBPCHF is sitting around 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