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NZDUSD – Purple War Zone!

according to TheSignalyst on trading view:

Hello everyone, if you like the idea, do not forget to support with a like and follow.

NZDUSD is overall bearish trading inside our brown trendlines, so we will be looking for Trend-Following Sell Setups as it approaches the upper brown trendline.

Moreover, the green area strong support turned into resistance.

Thus, the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper brown trendline. (acting as non-horizontal resistance)

As per my trading style:
As NZDUSD approaches the upper purple circle, I will be looking for reversal bearish 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!

TheSignalyst: youtube

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