GBPNZD - Looking For Sell Setups Already!

2023年4月24日

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

on WEEKLY: Left Chart
GBPNZD is sitting around a strong weekly resistance in green, so we will be looking for sell setups on lower timeframes.

on DAILY: Right Chart
GBPNZD is overall bullish trading inside the rising red channel. However, it is approaching the upper trendline.

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

As per my trading style:
As GBPNZD approaches the upper 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