Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 NZDCAD has been overall bearish, trading within the falling channel in blue.
At present, NZDCAD is undergoing a correction phase and it is currently approaching the upper blue trendline acting as a non-horizontal resistance.
Moreover, it is retesting a strong supply zone marked in green.
🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green supply and upper blue trendline.
📚 As per my trading style: As #NZDCAD approaches the red circle zone, I will be looking for bearish reversal setups (like a top 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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