NZDCAD - Strong Support Ahead 💪

14. Aug. 2023

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

NZDCAD has been overall bearish trading inside the falling channel in red, and it is currently approaching the lower trendline.

Moreover, the 0.79 - 0.8 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 and lower red trendline.

As per my trading style:
As NZDCAD is sitting around the purple 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