XAUUSD, H1 PROJECTION
PAIR: XAUUSD
TIMEFRAME: 1H
It is important to note that the instrument, GOLD is classified as "stock" and does not necessarily behave like the regular currencies.
One may think price would retrace; correction after the impulse move but from experience, price would keep rallying up until trendline -X which marks a channel.
But like always, the pair is full of surprises so one must be careful in picking an entry point.
Lower TFs are best bets for this.
TIMEFRAME: 1H
It is important to note that the instrument, GOLD is classified as "stock" and does not necessarily behave like the regular currencies.
One may think price would retrace; correction after the impulse move but from experience, price would keep rallying up until trendline -X which marks a channel.
But like always, the pair is full of surprises so one must be careful in picking an entry point.
Lower TFs are best bets for this.
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.