Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per my last analysis (attached on the chart) USDCAD rejected our lower red trendline and green support, and traded higher.
Now USDCAD is approaching the upper red trendline so we will be looking for sell setups on lower timeframes.
Moreover, the red zone is a strong supply.
🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the red supply and upper red trendline. (acting as non-horizontal resistance)
As per my trading style:
As USDCAD approaches the upper red trendline and 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
As per my last analysis (attached on the chart) USDCAD rejected our lower red trendline and green support, and traded higher.
Now USDCAD is approaching the upper red trendline so we will be looking for sell setups on lower timeframes.
Moreover, the red zone is a strong supply.
🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the red supply and upper red trendline. (acting as non-horizontal resistance)
As per my trading style:
As USDCAD approaches the upper red trendline and 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
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
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
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
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.