Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
NZDUSD has been overall bearish trading inside the falling broadening wedge pattern in orange, and it is currently approaching the lower bound of the wedge.
Moreover, the zone 0.57-0.58 is a strong support zone.
🏹 So the highlighted orange 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 a non-horizontal support.
As per my trading style:
As NZDUSD approaches the lower orange 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
NZDUSD has been overall bearish trading inside the falling broadening wedge pattern in orange, and it is currently approaching the lower bound of the wedge.
Moreover, the zone 0.57-0.58 is a strong support zone.
🏹 So the highlighted orange 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 a non-horizontal support.
As per my trading style:
As NZDUSD approaches the lower orange 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
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
cutt.ly/CRGPT