Ascending Channel on 24/8/2023

Gold has confirmed breaking the pervious descending channel on 1/2 hour chart and 1 hour chart for 3 days now , and it is forming new Ascending channel with
TP 1924
SL 1911
it is possible for Gold to form new highs as Yields is not moving higher and Fed is walking on massive amount of debts .

Kommentera:

my Model was very helpful for traders who sold gold at 1922
and bought at 1913 yesterday and today
the price now is 1912 and while this could be a buy point according to the model , i suggest to wait to next week as a new model could be applied in 28/8/2023 .