Key Points 1. _Bear Flag_: The pattern suggests a potential continuation of the downtrend. 2. _H1 Timeframe_: The 1-hour chart provides a short-term perspective. 3. _Support and Resistance_: Identify nearby support and resistance levels. 4. _Volume and Momentum_: Monitor trading volume and momentum indicators.
Trading Strategies 1. _Short Position_: Consider entering a short position if Gold breaks below the lower line of the flag. 2. _Target_: Estimate the potential target by measuring the height of the flagpole. 3. _Set Stop-Loss_: Place a stop-loss order above the upper line of the flag.
Additional Tips 1. _Combine with Other Analysis_: Use the bear flag analysis with other technical and fundamental analysis tools. 2. _Monitor Market Sentiment_: Keep an eye on market sentiment. 3. _Risk Management_: Prioritize risk management with stop-loss orders and position sizing.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.