GOLD Buy Setup - Will You Wait For It? Long

GoldOANDA

Description

⋅ Jan 14, 2021 2:10 PM

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!

Comments

transparent-fx

⋅ Jan 14, 2021 2:30 PM

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

TheSignalyst

⋅ Jan 14, 2021 2:36 PM

@transparent-fx, Right Nick ;) glad to hear from you here!

lindohshezi

⋅ Jan 19, 2021 9:39 AM

just bought it just now

TheSignalyst

⋅ Jan 19, 2021 10:07 AM

@lindohshezi, as per the above analysis, this one is not ready to go yet, I will post an update soon

etfsandstuff

⋅ Jan 18, 2021 2:23 AM

Now

Tomasgei

⋅ Jan 17, 2021 8:29 PM

Nice but DXY have a plenty space to run. It could make more pressure for gold..

TheSignalyst

⋅ Jan 19, 2021 10:07 AM

@Tomasgei, good luck Tomas

ASIF_Tiwana

⋅ Jan 15, 2021 5:10 PM

v v nice idea

TheSignalyst

⋅ Jan 15, 2021 5:15 PM

@ASIF_Tiwana, thank you dear!

BitTigerCrypto

⋅ Jan 15, 2021 4:42 PM

GOLD is a long term prospective currently.