EURUSD - Bullish No More!

17 בפבר׳

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

📈EURUSD has been overall bullish, trading within the rising channel, however it is currently retesting the upper bound of the channel.

Moreover, the red zone is the upper bound of its weekly range.

🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the structure and upper red trendline acting as a non-horizontal resistance.

📚 As per my trading style:
As #EURUSD approaches the red circle, 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.

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