After a bullish spike, I look for the formation of a channel to gauge the market's next move. It's a strategy that often reveals whether the initial surge is sustainable or just a temporary blip. In this chart, we see Gold forming an ascending channel post-spike, suggesting the uptrend may continue.
Kommentera:
The XAUUSD price is still in the ascending channel and the bullish target is upper than these levels.
Kommentera:
Spot on! The channel performed perfectly. A toast to all the buyers who capitalized on this trend...
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