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on DAILY: GOLD is approaching a strong round number 1800.0 in green so we will be looking for buy setups on lower timeframes.
on M30: GOLD is forming a channel in gray but it is not valid yet so now we are waiting for a third swing to form around it to consider it valid.
Trigger: Waiting for a momentum candle close above the gray area to buy.
and until the buy is activated, this one would be overall bearish and can still break the 1800 downward.
and if GOLD breaks the gray trendline upward now (before forming two more swings for it to be valid) then we will not buy.
As price approaches our upper resistance, we will be looking for sell setups.
Good luck!
on DAILY: GOLD is approaching a strong round number 1800.0 in green so we will be looking for buy setups on lower timeframes.
on M30: GOLD is forming a channel in gray but it is not valid yet so now we are waiting for a third swing to form around it to consider it valid.
Trigger: Waiting for a momentum candle close above the gray area to buy.
and until the buy is activated, this one would be overall bearish and can still break the 1800 downward.
and if GOLD breaks the gray trendline upward now (before forming two more swings for it to be valid) then we will not buy.
As price approaches our upper resistance, we will be looking for sell setups.
Good luck!
This analysis is done using RichTL
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
cutt.ly/CRGPT