larry47
Long

Good entry as XAUCAD near channel support again

OANDA:XAUCAD   Gold/CAD
XAUCAD has been moving inside an upward channel since Jun 2013. If you measure in CAD, gold has been in a slow bull market for the past 4 years.

Remember in early July 2017, XAUCAD hits channel support and immediately bounced back up. The long term structure still holds.

This is almost the same situation as 1 year ago, which was described in my linked trade idea which turned out to be highly profitable.

Unless the channel is broken, the recommended strategy is to long this pair.

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