OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

πŸ“ˆ 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.

πŸ“š 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...)

πŸ“š Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!

This analysis is done using RichTL

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