Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
EURUSD is overall bearish trading inside our blue channel, however, it is approaching a strong demand area and round number 1.00
Moreover, the lower two trendlines (blue and orange) act as non-horizontal support.
Thus, the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green demand and lower trendlines.
As per my trading style:
As EURUSD approaches the purple circle, I will be looking for reversal bullish setups (like a double bottom 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
EURUSD is overall bearish trading inside our blue channel, however, it is approaching a strong demand area and round number 1.00
Moreover, the lower two trendlines (blue and orange) act as non-horizontal support.
Thus, the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green demand and lower trendlines.
As per my trading style:
As EURUSD approaches the purple circle, I will be looking for reversal bullish setups (like a double bottom 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