Spike and Channel Pattern on Gold
If you check my previous analysis on XAUUSD, same price action happened just like EURUSD chart.
After spike down, first pullback came and first PBs are signs of channels.
Bear channel may resumes down but pay attention to overlaps. Also we didn't have strong bear breakout after first PB.
If bears could not create a bear channel, then we will have trading range. (Overlaps, down up, doji bars = Sign of TR)
What do you think about this chart? Feel Free and Comment Below!
After spike down, first pullback came and first PBs are signs of channels.
Bear channel may resumes down but pay attention to overlaps. Also we didn't have strong bear breakout after first PB.
If bears could not create a bear channel, then we will have trading range. (Overlaps, down up, doji bars = Sign of TR)
What do you think about this chart? Feel Free and Comment Below!
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