Good day! Apologies for posting this one too late. I found a nice setup today that may lead to a potential breakout.
If we look at NZDUSD on its daily chart, we’ll see that yesterday’s candle ended as an inside candle situated at a confirmed swing level and a bullish trend line. The setup can also qualify as a bullish channel.
This setup indicates a preference for a bullish swing, since price broke out of consolidation to reach higher prices.
The bullish trend line and the swing level combine to form a barricade that stops price from going further down.
A breakout entry for bullish breakouts is a reasonable choice of trade here. Since price is forming a bullish trend, there’s a good chance for a nice profit for buy orders.