NZDCHF - Wait For It...

18 Jul

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

📈NZDCHF has been overall bullish, trading within the flat rising wedge marked in blue.

Currently, NZDCHF is undergoing a correction phase in the shape of a falling channel in red.

Moreover, it is retesting massive support in green.

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

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