GOLD - Support Rejected✅ Now Approaching A Resistance!

٢٧ يوليو ٢٠٢٢

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

As per my last analysis, we were looking for buy setups around the 1675 - 1700 support zone

Now What?

GOLD is approaching the upper orange trendline acting as a non-horizontal resistance.

Moreover, the zone 1750 is a support turned into resistance.

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

As per my trading style:
As GOLD approaches the upper purple circle, I will be looking for reversal bearish 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