EURNZD - Strong Intersection!

19 Feb

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

📈EURNZD has been in a correction phase trading within the falling red channel and it is currently retesting the lower bound of the bullish channel marked in blue.

Moreover, the green zone is a strong structure and support zone.

🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of structure and lower blue and red trendlines acting as non-horizontal support.

📚 As per my trading style:
As #EURNZD approaches the blue circle, 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

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

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