GOLD, FAKEOUT OR THE FALL OF THE GIANT? 🧙‍♂️

Jan 8, 2021

Another channel of the day would XAUUSD on the 4H timeframe. We've already been 1000+ pips in profit from the last two gold trades. The secret sauce? Adapt and improvise. Put aside your initial bias and look rationally. As of right now, Gold has strongly broken out of its uptrend channel. If it manages to find some peace in the 1875 area, we may expect a further fall. However, if it returns back to the channel, we'll see the trend continuation. We'll keep an eye on this guy and enter the trade if one of the conditions prevails. Please share your thoughts in the comments!