Long
FTM - Trio Retest!
Hello Trading Family, FTM is approaching an interesting area. What I call "TRIO RETEST"
Here is why => The Highlighted Purple Circle is the intersection of Three key rejection levels/zones.
Retest 1: Brown Trendline
Gold is overall bullish and currently testing the brown trendline which acts as non-horizontal support.
Retest 2: Lower Red Trendline
The lower red trendline is the lower bound of the channel which I consider as an oversold area.
Retest 3: Green Support - 1.9-2.0
The green level is a previous resistance turned into support
As per my trading style/plan:
I will zoom in to lower timeframes and look for bullish reversal setups (like a double bottom, 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
Here is why => The Highlighted Purple Circle is the intersection of Three key rejection levels/zones.
Retest 1: Brown Trendline
Gold is overall bullish and currently testing the brown trendline which acts as non-horizontal support.
Retest 2: Lower Red Trendline
The lower red trendline is the lower bound of the channel which I consider as an oversold area.
Retest 3: Green Support - 1.9-2.0
The green level is a previous resistance turned into support
As per my trading style/plan:
I will zoom in to lower timeframes and look for bullish reversal setups (like a double bottom, 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
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
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RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.