GBPNZD - Trading The Channel ↗️↘️

4 בדצמ׳ 2023

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