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
Trade Made Simple
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade Made Simple
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.