Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 As per our latest Gold analysis, price rejected the $3,100 – $3,150 support zone and traded higher.
However, Gold is still in a correction phase, moving within a falling red channel.
This week, it has been rejecting the upper bound of the channel, reinforcing bearish pressure.
⛔ As long as the upper red trendline holds, the bears remain in control.
✅ For momentum to shift back in favor of the bulls, a clear break above the upper red trendline is needed.
📚 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.
📈 As per our latest Gold analysis, price rejected the $3,100 – $3,150 support zone and traded higher.
However, Gold is still in a correction phase, moving within a falling red channel.
This week, it has been rejecting the upper bound of the channel, reinforcing bearish pressure.
⛔ As long as the upper red trendline holds, the bears remain in control.
✅ For momentum to shift back in favor of the bulls, a clear break above the upper red trendline is needed.
📚 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.
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
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
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
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.