GOLD (XAUUSD): Update & Thoughts

14 Jul 2020

gold is still trading within a major daily/4h rising channel.

after setting a new higher high higher close within that, the price started to consolidate.
the market formed a bullish flag pattern setting a sequence of lower lows and lower highs on 1H.

to catch a bullish continuation, you can wait for a bullish violation of a flag.
then buying on retest we can get a great trend following trade.

next goal will be 1823.0


in case of a bearish violation of a major channel, bias will shift to bearish