XAUUSD has been trading in an ascending channel as of Friday 13 October 2023 as displayed on my chart. Currently we are trading against the lower trendline, so there is potential for either a break-out from this level OR we can potentially expect a bounce and some bullish momentum to re-test the 2080 level.
Another possibility is a fake-out and a bounce from the 2000 Level as this would be a 0.79 Fib Level retracement and would sweep liquidity at the 2003 Level.
At this stage as my title mentions, there is no clear direction or any trade opportunities at this stage. So be cautious, be patient, and wait for that A+ Setup.
Another possibility is a fake-out and a bounce from the 2000 Level as this would be a 0.79 Fib Level retracement and would sweep liquidity at the 2003 Level.
At this stage as my title mentions, there is no clear direction or any trade opportunities at this stage. So be cautious, be patient, and wait for that A+ Setup.