Good entry as XAUCAD near channel support again
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.
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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