GBPCHF - Strong Supply!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 GBPCHF has been overall bullish, trading within the rising channel in red.
Currently, GBPCHF is hovering around the upper bound of the channel.
Moreover, it is retesting a supply zone marked in red.
🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the supply zone and upper red trendline acting as a non-horizontal resistance.
📚 As per my trading style:
As #GBPCHF approaches the red 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
