Part 2
Gold was trading in a channel!
i only just saw this. The drop in Gold of 500 pips last week was from three things:
1. Triple Top/Head and shoulders
2. Break of trend line
3. To touch the bottom of the channel.
Gold has been in a channel trending up since the massive double bottom from May. The trend and channel are still valid because Gold was able to rally back and still close in the channel and retraced back up over 300 pips.
This is the Part 2 of my technical analysis. There could be a fundamental reason but I have chosen to just focus on the technicals.
How did you do during the past few days trading Gold?
Gold was trading in a channel!
i only just saw this. The drop in Gold of 500 pips last week was from three things:
1. Triple Top/Head and shoulders
2. Break of trend line
3. To touch the bottom of the channel.
Gold has been in a channel trending up since the massive double bottom from May. The trend and channel are still valid because Gold was able to rally back and still close in the channel and retraced back up over 300 pips.
This is the Part 2 of my technical analysis. There could be a fundamental reason but I have chosen to just focus on the technicals.
How did you do during the past few days trading Gold?