Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
π NZDJPY has been overall bullish, trading within the rising channel in blue.
Currently, NZDJPY is in a correction phase and it is approaching the lower bound of the channel acting as a non-horizontal support.
Moreover, it is retesting a strong demand zone at 89.5 marked in green.
πΉ Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green demand and lower blue trendline.
π As per my trading style:
As #NZDJPY is around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
π Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
π NZDJPY has been overall bullish, trading within the rising channel in blue.
Currently, NZDJPY is in a correction phase and it is approaching the lower bound of the channel acting as a non-horizontal support.
Moreover, it is retesting a strong demand zone at 89.5 marked in green.
πΉ Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green demand and lower blue trendline.
π As per my trading style:
As #NZDJPY is around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
π 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
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
cutt.ly/CRGPT