Gold - Getting Ready for the Next Impulse!
Updated
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 XAUUSD has been overall bullish, trading within the flat rising channel in blue.
Currently, XAUUSD is undergoing a correction phase and it is currently approaching the lower bound of the channel.
Moreover, it is retesting strong demand zone marked in green.
🏹 Thus, the highlighted blue circle is a strong area to look for trend-following buy setups as it is the intersection of the green demand zone and lower blue trendline acting as a non-horizontal support.
📚 As per my trading style:
As #Gold approaches the blue 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
📈 XAUUSD has been overall bullish, trading within the flat rising channel in blue.
Currently, XAUUSD is undergoing a correction phase and it is currently approaching the lower bound of the channel.
Moreover, it is retesting strong demand zone marked in green.
🏹 Thus, the highlighted blue circle is a strong area to look for trend-following buy setups as it is the intersection of the green demand zone and lower blue trendline acting as a non-horizontal support.
📚 As per my trading style:
As #Gold approaches the blue 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
Trade closed: target reached
Trading Made Simple; and Rule-Based
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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