Gold could start a correction
Yesterday, after an intraday correction during the Asian session, 
XAUUSD bulls regained control and pushed the price to a new all-time high of 2830.
Since the start of the year, gold has been trading within a tight ascending channel.
Given that the price touched the upper boundary of this channel yesterday, a test of the lower boundary could be expected next.
At the time of writing, the price is hovering around minor support, and a break below this level could expose the 2770 zone.
Despite the strong uptrend, my strategy is to sell into rallies—though this approach carries significant risk.
A new all-time high would invalidate this scenario.
XAUUSD bulls regained control and pushed the price to a new all-time high of 2830.Since the start of the year, gold has been trading within a tight ascending channel.
Given that the price touched the upper boundary of this channel yesterday, a test of the lower boundary could be expected next.
At the time of writing, the price is hovering around minor support, and a break below this level could expose the 2770 zone.
Despite the strong uptrend, my strategy is to sell into rallies—though this approach carries significant risk.
A new all-time high would invalidate this scenario.
Trade closed: stop reached
My today analysis has been incorrect
However, as said, I was not sure, so the volume was low and stop also pretty tight.
Anyway, further on, I will look also to sell when I will think the price will start correcting
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.