Gold vs Dollar
Updated
we have a minor and a major channel in daily.
if we break the minor channel ( break the red line ) heading upwards, we can buy till we head to the top of the major channel and watch for price action there, we will either break the major channel confirming medium term buy or we test the end of the channel one more time heading down.
or
we break the minor channel to the downside and inside of going up first, we go down to the end of the major channel before heading back up again.
remember that this pair is bullish so upside is in favour in general.
if we break the minor channel ( break the red line ) heading upwards, we can buy till we head to the top of the major channel and watch for price action there, we will either break the major channel confirming medium term buy or we test the end of the channel one more time heading down.
or
we break the minor channel to the downside and inside of going up first, we go down to the end of the major channel before heading back up again.
remember that this pair is bullish so upside is in favour in general.
Note
looks like the channel is holding, we shall wait and see, if it keeps holding and heading up, we will buy with our SL right below the channel.Note
gold is troll mode aka consolidation, we shall wait for a more clear signNote
Shorting itNote
Set SL to B/ETrade closed manually
out with 20 pips, posting a new chart.
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