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Gold Hugging Daily Trend Line

From vantagefx.com

Good morning traders, Back at the beginning of the month, we were watching price action in gold when it printed a long legged doji at trend line resistance. Normally, the trading textbook would have you believe that this is bearish price action. But I ended that particular blog post with this: “It doesn’t have to represent a pending reversal. With price now continuing to show bullish strength, it could just as easily continue to hug the trend line as price continues moving up, or even reactivate it as support and carry on with the original trend line like nothing had happened and it was never broken in the first ... (full story)

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  • Category: Technical Analysis