NZDCAD - 📈 => 📉

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

As per my last analysis (attached on the chart), NZDCAD rejected the lower bound of the red channel and traded higher.

What's next?

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

At present, NZDCAD is undergoing a correction phase, trading within the short-term rising channel in blue, and it is currently approaching the upper bound of the channel.

Moreover, it is retesting a strong resistance zone in green.

🏹 Thus, the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green resistance and upper trendlines.

📚 As per my trading style:
As #NZDCAD is hovering around the 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