GOLD - Strong Rejection Ahead!

14 lug 2022

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

GOLD is overall bearish trading inside our orange channel, however, it is approaching a strong support area 1675 - 1700

Moreover, the lower orange trendline acts as non-horizontal support.

Thus, the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support zone and lower orange trendline.

As per my trading style:
As GOLD approaches the purple circle, I will be looking for reversal bullish 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