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NZDCHF - Strong Support Zone🛑

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

NZDCHF is overall bearish trading inside the falling broadening wedge in brown and previously we have been looking for trend-following sell setups around the upper brown trendline.

Now NZDCHF is approaching the lower brown trendline.

Moreover, the zone 0.55 is a strong support.

🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support and lower orange trendline. (acting as non-horizontal support)

As per my trading style:
As NZDCHF approaches the lower 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

TheSignalyst

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