Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
For those who know me well, know that I am a big fan of Gold, not as a long-term investment like I approach stocks and crypto, but as a backup plan if things go sideways.
By Gold, I mean physical, tangible Gold🥇. I regularly purchase an ounce every couple of months, depends on my budget, and stack it somewhere safe.
I learnt this habit from an Armenian friend. Shoutout to Armenians, you know exactly what I am talking about.
Now let's get back to the charts 😁
As per my last two analysis, we have looking for buy setups as Gold was approaching a support zone 1675 - 1700
Gold rejected our support zone and ended up closing bullish for the week.
But the question is... are you finally bullish?
Not Yet❗️
For the bulls to take over from a long-term perspective, and as per my trading plan / style, we still need a new major high to form.
and then, a break above:
i- this new major high (projection in purple)
ii- 1750 - 1760 zone
iii- upper orange trendline
then, we will be expecting a shift in momentum from bearish to bullish📈.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
For those who know me well, know that I am a big fan of Gold, not as a long-term investment like I approach stocks and crypto, but as a backup plan if things go sideways.
By Gold, I mean physical, tangible Gold🥇. I regularly purchase an ounce every couple of months, depends on my budget, and stack it somewhere safe.
I learnt this habit from an Armenian friend. Shoutout to Armenians, you know exactly what I am talking about.
Now let's get back to the charts 😁
As per my last two analysis, we have looking for buy setups as Gold was approaching a support zone 1675 - 1700
Gold rejected our support zone and ended up closing bullish for the week.
But the question is... are you finally bullish?
Not Yet❗️
For the bulls to take over from a long-term perspective, and as per my trading plan / style, we still need a new major high to form.
and then, a break above:
i- this new major high (projection in purple)
ii- 1750 - 1760 zone
iii- upper orange trendline
then, we will be expecting a shift in momentum from bearish to bullish📈.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal