GOLD - Purple War Zones!
Hello everyone, if you like the idea, do not forget to support with a like and follow.
GOLD is stuck inside a range in the shape of a channel as shown in blue. And it is currently sitting around the green support zone 1800.0
The highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline. (acting as non-horizontal support)
As per my trading style:
I will be looking for bullish reversal setups on lower timeframes (like a double bottom pattern, trendline break, and so on...)
Meanwhile, until a bullish reversal setup is activated, GOLD would be overall bearish and can still test the brown trendline from Daily before going up.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GOLD is stuck inside a range in the shape of a channel as shown in blue. And it is currently sitting around the green support zone 1800.0
The highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline. (acting as non-horizontal support)
As per my trading style:
I will be looking for bullish reversal setups on lower timeframes (like a double bottom pattern, trendline break, and so on...)
Meanwhile, until a bullish reversal setup is activated, GOLD would be overall bearish and can still test the brown trendline from Daily before going up.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
Instagram
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Best Crypto Exchange
coincall.com/r/thesignalyst
RichTL.com
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Best Crypto Exchange
coincall.com/r/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.