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Go check out my previous post on XAUUSD - Wk1 timeframe chart analysis. I had to use that to filter the much
noise on D1 timeframe. Currently, this yellow metal is ranging around the multi-months channel top it has been
obeying. My watch is that the bulls are planning to come in hard should this bullish flag pattern play out.
We already have 4 points hit on the flag and the pole is intact. I took my buy position entry 1 @1800. The next
@1805. My SL is where it is as seen. All I can say is that there needs to be a news release strong enough that sends
the asset in a particular direction. Until then, it will range. Most likely, a poor performance of USD can drive it up,
or a general risk-off mood in the market. Just watch out and stay safe!
WK1 - bullish rejection candlesticks (2 previous weeks)
D1 - bullish rejection candlestick (yesterday)
H4 - bullish flag pattern (currently forming)
Wait for a breakout in either directions, upside or downside, and then a retest, to confirm what bias you should have.
This is no guarantee that it will buy. Just a piece of information to enlighten us. Thank you.
DISCLAIMER: Please note that this is not an investment advice for anybody to run or undertake; It is for
educational purposes only and they are my personal views on these assets. If anything goes south, I am not liable.
Also, know that Forex is a high risk and reward business. So, do not trade with borrowed money or the one you can
not afford to lose.
Go check out my previous post on XAUUSD - Wk1 timeframe chart analysis. I had to use that to filter the much
noise on D1 timeframe. Currently, this yellow metal is ranging around the multi-months channel top it has been
obeying. My watch is that the bulls are planning to come in hard should this bullish flag pattern play out.
We already have 4 points hit on the flag and the pole is intact. I took my buy position entry 1 @1800. The next
@1805. My SL is where it is as seen. All I can say is that there needs to be a news release strong enough that sends
the asset in a particular direction. Until then, it will range. Most likely, a poor performance of USD can drive it up,
or a general risk-off mood in the market. Just watch out and stay safe!
WK1 - bullish rejection candlesticks (2 previous weeks)
D1 - bullish rejection candlestick (yesterday)
H4 - bullish flag pattern (currently forming)
Wait for a breakout in either directions, upside or downside, and then a retest, to confirm what bias you should have.
This is no guarantee that it will buy. Just a piece of information to enlighten us. Thank you.
DISCLAIMER: Please note that this is not an investment advice for anybody to run or undertake; It is for
educational purposes only and they are my personal views on these assets. If anything goes south, I am not liable.
Also, know that Forex is a high risk and reward business. So, do not trade with borrowed money or the one you can
not afford to lose.