Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
GBPNZD has been overall bearish trading within the falling red channel and it is currently approaching the lower bound / trendline.
Moreover, the zone 2.038 is a strong support.
📉 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the support and lower red trendline acting as a non-horizontal support.
📚 As per my trading style:
As GBPNZD approaches the lower red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Moreover, as GBPNZD approaches the upper red trendline, we will be looking for sell setups.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GBPNZD has been overall bearish trading within the falling red channel and it is currently approaching the lower bound / trendline.
Moreover, the zone 2.038 is a strong support.
📉 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the support and lower red trendline acting as a non-horizontal support.
📚 As per my trading style:
As GBPNZD approaches the lower red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Moreover, as GBPNZD approaches the upper red trendline, we will be looking for sell setups.
📚 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