AUDNZD - Strong Rejection Zones!

24 de nov. de 2022

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

AUDNZD is overall bearish trading inside the red channel, however, it is now approaching the lower red trendline acting as a non-horizontal support zone .

Moreover, the zone 1.07 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 zone and lower red trendline. (acting as non-horizontal support)

As per my trading style:
Since AUDNZD is around the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

and of course, as AUDNZD approaches the upper red trendlines, we will be looking for trend-following sell setups.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich