Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 NZDUSD has been overall bearish, trading within the falling wedge pattern in blue.
Currently, NZDUSD is in a correction phase, approaching the lower bound of the wedge.
Moreover, it is retesting a strong demand in green.
🏹 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.
📚 As per my trading style: As #NZDUSD approaches the blue 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
@adejobiadewale62, thanks dear. what would you like me to analyze next?
ICmarkets
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The channel seems solid as there's 2 touches at the top and 3 touches at the bottom. It is nice to see the support zone line up with the lower part of the channel. Interesting to see how this plays out, keeping an eye on it