- May 4, 2021
- Posted by: Tradingshot Articles
- Category: Commodities
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This is a comparison of XAUUSD (Gold) during March/ April / May 2021 and May/ June/ July 2020. As you see there are a few strong similarities:
* Both formed a Double Bottom on their start.
* A Golden Cross was then formed on the 4H time-frame.
* This gave way to a Channel Up (blue).
* The 4H MACD at the start of the Channel Up until now is virtually identical.
Do you think history will repeat itself and push Gold higher inside the Channel Up and then even aggressively outside it on a Parabolic Rise?
Tradingview link:
https://www.tradingview.com/chart/XAUUSD/3RtLYxm8-GOLD-2021-vs-2020