Gold - Take A Break? 🥇

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

After rejecting our 1800 support zone, Gold has been bullish making higher highs and higher lows.

However, it is approaching the upper brown trendline that I consider an overbought area.

Moreover, the 2075 is the current all-time-high.

🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper brown trendline. (acting as non-horizontal resistance)

As per my trading style:
As XAUUSD is sitting around the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

Of course, UNLESS Gold breaks above 2075 in an aggressive manner, then the bulls will remain in control and we will expect an extended bullish movement.

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich