Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈GOLD has been overall bullish from a macro perspective trading within the rising wedge pattern in orange.
After rejecting the $3,500 round number and upper bound of the wedge, XAUUSD signaled the start of the correction phase as marked by the red falling channel.
Moreover, the $3,100 - $3,150 zone is a strong support.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of support and lower orange trendline acting non-horizontal support.
📚 As per my trading style:
As #XAUUSD 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
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
📈GOLD has been overall bullish from a macro perspective trading within the rising wedge pattern in orange.
After rejecting the $3,500 round number and upper bound of the wedge, XAUUSD signaled the start of the correction phase as marked by the red falling channel.
Moreover, the $3,100 - $3,150 zone is a strong support.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of support and lower orange trendline acting non-horizontal support.
📚 As per my trading style:
As #XAUUSD 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
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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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.