Hello everyone, if you like the idea, do not forget to support with a like and follow.
GOLD is sitting around a strong daily supply so we will be looking for sell setups on lower timeframes.
on H4: GOLD formed a valid channel (in red) but this setup is not ready to go yet. We are waiting for the sellers to take over by breaking below the previous low. (projection in purple)
Trigger => Waiting for a momentum candle close (H4) below the last low (gray area).
Until the sell is activated, GOLD would be overall bullish and can still trade higher.
As price approaches the lower green support 1800.0, we will be looking for buy setups.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GOLD is sitting around a strong daily supply so we will be looking for sell setups on lower timeframes.
on H4: GOLD formed a valid channel (in red) but this setup is not ready to go yet. We are waiting for the sellers to take over by breaking below the previous low. (projection in purple)
Trigger => Waiting for a momentum candle close (H4) below the last low (gray area).
Until the sell is activated, GOLD would be overall bullish and can still trade higher.
As price approaches the lower green support 1800.0, we will be looking for buy setups.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich