Gold - Decision Zone ⚠️⏱

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

📈 Gold has been overall bullish medium-term (daily) and long-term (monthly) trading within the rising channels and wedge patterns in blue and orange respectively.

Currently, #XAUUSD is hovering within a narrow range marked in red.

Scenarios:

1️⃣ Bullish Continuation

For the bulls to regain full control, a break above the upper bound of the red range is needed.

In this case, a movement towards the $2500 resistance zone would be expected.

2️⃣ Bearish Correction

In parallel, if the lower bound of the red range is broken downward, we expect the bearish correction towards the $2160 demand zone.

Which scenario is more likely to happen first? and why?

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich