EURNZD - Getting Over-Bought ↘️

7 août 2023

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

EURNZD has been overall bullish trading inside the rising channel in orange, however it is currently approaching upper bound of the channel.

Moreover, the zone 1.81 is a strong resistance zone.

🏹 So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the blue supply and upper red trendline.

As per my trading style:
As EURNZD 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