GBPNZD - Over-Bought Zone ⬇️

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

GBPNZD is has been overall bullish trading inside the rising red channel, however it is currently approaching the upper red trendline. So we will be looking for sell setups.

Moreover, the green zone is a strong supply.

🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green supply and upper red trendline. (acting as non-horizontal resistance)

As per my trading style:
As GBPNZD is sitting around the purple circle zone, I will be looking for bearish reversal 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