TheSignalyst

GOLD Buy Setup - Will You Wait For It?

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hello everyone, if you like the idea, do not forget to support with a like and follow.

on DAILY: GOLD is approaching a strong round number 1800.0 in green so we will be looking for buy setups on lower timeframes.

on M30: GOLD is forming a channel in gray but it is not valid yet so now we are waiting for a third swing to form around it to consider it valid.

Trigger: Waiting for a momentum candle close above the gray area to buy.

and until the buy is activated, this one would be overall bearish and can still break the 1800 downward.

and if GOLD breaks the gray trendline upward now (before forming two more swings for it to be valid) then we will not buy.

As price approaches our upper resistance, we will be looking for sell setups.

Good luck!
This analysis is done using RichTL indicator
http://www.RichTL.com

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Comments

I agree from a directional aspect, we should see the market give us a nice daily retracement, then we should see another impulse, at the moment tho we still don't have any confirmations for a long on the 4h
+5 Reply
TheSignalyst transparent-fx
@transparent-fx, Right Nick ;) glad to hear from you here!
+2 Reply
v v nice idea
+1 Reply
TheSignalyst ASIF_Tiwana
@ASIF_Tiwana, thank you dear!
Reply
GOLD is a long term prospective currently.
+1 Reply
TheSignalyst BitTigerCrypto
@BitTigerCrypto, yess let's see how it goes from here ;)
Reply
Too much ideas
+1 Reply
TheSignalyst amjad96sami
@amjad96sami thank you so much
Reply
Bomba
+1 Reply
TheSignalyst Rackelle_M1
@Rackelle_M1 thank you
Reply
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