AUDNZD - Strong Rejection Zones!
Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
AUDNZD is overall bearish trading inside the red channel, however, it is now approaching the lower red trendline acting as a non-horizontal support zone .
Moreover, the zone 1.07 is a strong support zone .
So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support zone and lower red trendline. (acting as non-horizontal support)
As per my trading style:
Since AUDNZD is around the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
and of course, as AUDNZD approaches the upper red trendlines, we will be looking for trend-following sell setups.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
AUDNZD is overall bearish trading inside the red channel, however, it is now approaching the lower red trendline acting as a non-horizontal support zone .
Moreover, the zone 1.07 is a strong support zone .
So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support zone and lower red trendline. (acting as non-horizontal support)
As per my trading style:
Since AUDNZD is around the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
and of course, as AUDNZD approaches the upper red trendlines, we will be looking for trend-following sell setups.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
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instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Best Crypto Exchange
coincall.com/r/thesignalyst
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