Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
AUDJPY has been overall bearish trading inside the falling orange channel, however it is currently approaching the lower orange trendline. So we will be looking for buy setups.
Moreover, the green zone is a strong support and demand.
🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower orange trendline. (acting as non-horizontal support)
As per my trading style:
As AUDJPY approaches the 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
AUDJPY has been overall bearish trading inside the falling orange channel, however it is currently approaching the lower orange trendline. So we will be looking for buy setups.
Moreover, the green zone is a strong support and demand.
🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower orange trendline. (acting as non-horizontal support)
As per my trading style:
As AUDJPY approaches the 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