GOLD UPDATE - Ascending channel fake out, watch next bar's close
- I posted an ascending channel idea yesterday here:
- The last 4h candle made an attempt to breakdown through the ascending trend support of the pattern
- HOWEVER 1500 appears to be acting as strong support and provided the means for a clear fake out evidenced by the wick extending below the trend support
** Need to watch the next 4H candle's close carefully to full confirm/determine weather this is a real fake out or a fake-fake out
- HOWEVER 1500 appears to be acting as strong support and provided the means for a clear fake out evidenced by the wick extending below the trend support
** Need to watch the next 4H candle's close carefully to full confirm/determine weather this is a real fake out or a fake-fake out