Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
on DAILY: Left Chart
EURUSD has been overall bullish trading inside the flat rising channel in brown, and it is currently approaching the lower bound / trendline and support zone.
Hence, we will be looking for trend-following buy setups on lower timeframes.
on H1: Right Chart
EURUSD formed a valid channel in red but it is not ready to go yet.
For the bulls to take over, we need a momentum candle close above the last high marked in gray.
In this case, we will expect a shift in momentum from bearish to bullish.
Meanwhile, until the buy is activated, EURUSD would be overall bearish and can still trade lower inside the support.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
on DAILY: Left Chart
EURUSD has been overall bullish trading inside the flat rising channel in brown, and it is currently approaching the lower bound / trendline and support zone.
Hence, we will be looking for trend-following buy setups on lower timeframes.
on H1: Right Chart
EURUSD formed a valid channel in red but it is not ready to go yet.
For the bulls to take over, we need a momentum candle close above the last high marked in gray.
In this case, we will expect a shift in momentum from bearish to bullish.
Meanwhile, until the buy is activated, EURUSD would be overall bearish and can still trade lower inside the support.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal