NZDCAD Trend-Following Setup - Analysis #31/50

17 mar 2023

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

NZDCAD is overall bearish trading inside the falling channel in orange.

Moreover, the zone 0.86 is a resistance and supply zone.

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

As per my trading style:
As NZDCAD 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