Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
GOLD is overall bullish trading inside the rising red channel, however, it is currently retesting the upper red trendline.
Moreover, the zone 1870 - 1900 is a strong resistance zone .
So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance zone and upper red trendline. (acting as non-horizontal resistance)
As per my trading style:
As GOLD is around the upper purple circle zone, I will be looking for bearish reversal setups (like a double top 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
GOLD is overall bullish trading inside the rising red channel, however, it is currently retesting the upper red trendline.
Moreover, the zone 1870 - 1900 is a strong resistance zone .
So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance zone and upper red trendline. (acting as non-horizontal resistance)
As per my trading style:
As GOLD is around the upper purple circle zone, I will be looking for bearish reversal setups (like a double top 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