Old But Gold 🥇

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

📈 Gold has been overall bearish, trading within the falling wedge pattern in blue.

At present, XAUUSD is undergoing a correction phase and it is currently approaching the upper blue trendline acting as a non-horizontal resistance.

Moreover, it is retesting a strong resistance zone marked in green.

🏹 Thus, the highlighted blue circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper red trendline.

📚 As per my trading style:
As #XAUUSD approaches the blue circle zone, I will be looking for bearish reversal setups (like a top 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

TheSignalyst

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TheSignalyst

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