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.