GOLD - Strong Support Ahead 💪

٢ أغسطس ٢٠٢٣

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

GOLD has been overall bearish trading inside the falling broadening wedge in red, and it is currently approaching the lower trendline.

Moreover, the 1935 level is a strong support.

🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue demand and lower blue trendline.

As per my trading style:
As GOLD is sitting around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom 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