Hello everyone, if you like the idea, do not forget to support with a like and follow.
NZDUSD is overall bearish trading inside our brown trendlines, so we will be looking for Trend-Following Sell Setups as it approaches the upper brown trendline.
Moreover, the green area a strong support turned into resistance.
Thus, the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper brown trendline. (acting as non-horizontal resistance)
As per my trading style:
As NZDUSD approaches the upper purple circle, I will be looking for reversal bearish setups (like a double top 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 is overall bearish trading inside our brown trendlines, so we will be looking for Trend-Following Sell Setups as it approaches the upper brown trendline.
Moreover, the green area a strong support turned into resistance.
Thus, the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper brown trendline. (acting as non-horizontal resistance)
As per my trading style:
As NZDUSD approaches the upper purple circle, I will be looking for reversal bearish setups (like a double top 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
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My Telegram Channel
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal