NZDJPY - Wait For The Bears!

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

📈 NZDJPY has been overall bearish, trading within the falling channel in red.

Currently, NZDJPY is approaching the upper bound of the channel acting as a non-horizontal resistance.

Moreover, it is retesting a demand zone marked in green.

🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper red trendline and green demand zone.

📚 As per my trading style:
As #NZDJPY approaches the red 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

Trade geschlossen: Ziel wurde erreicht