Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
π XAUUSD has been overall bullish, trading within the 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 the previous ATH marked in red.
πΉ Thus, the highlighted blue circle is a strong area to look for trend-following buy setups as it is the intersection of the red previous ATH and lower blue trendline acting as a non-horizontal support.
π 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...)
π Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
π XAUUSD has been overall bullish, trading within the 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 the previous ATH marked in red.
πΉ Thus, the highlighted blue circle is a strong area to look for trend-following buy setups as it is the intersection of the red previous ATH and lower blue trendline acting as a non-horizontal support.
π 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...)
π 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
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal