Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
CADCHF is overall bearish trading inside the orange channel, however, it is now approaching the lower orange trendline acting as a non-horizontal support zone.
Moreover, the zone 0.71 - 0.72 is a strong support zone .
So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support zone and lower orange trendline. (acting as non-horizontal support)
As per my trading style: Since CADCHF is around the purple circle zone, I will be looking for bullish reversal 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
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