EURAUD - Trend-Following Setup!

19 oct 2022

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

EURAUD is overall bearish trading inside the brown channel, and it is currently approaching the upper brown trendline.

Moreover, the zone 1.60 is a strong resistance zone .

So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance zone and upper brown trendline. (acting as non-horizontal resistance)

As per my trading style:
As EURAUD approaches the purple 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