GBPNZD - Purple War Zones!

27 Okt 2021Hello everyone, if you like the idea, do not forget to support with a like and follow.

GBPNZD is overall bearish trading inside the brown channel, and it is currently approaching the lower brown trendline and blue support.

As per my trading style/plan;
Here are the two strong zones where I will be looking for high probability buy setups:
I call them War Zones, (highlighted in Purple circles)

Zone 1: (around 1.945)

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

Zone 2: (around 1.905)

This highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support and lower brown trendline. (acting as non-horizontal support)

As per my trading style:
As GBPNZD approaches one of the purple circles, I will be looking for reversal setups (like a double bottom /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