XAUUSD PREMARKET ANALYSIS- 5 May, 2021, 1611 CT
OVERALL TREND BIAS- BULLISH
Price movement- consolidating in a channel the past couple of days before market closure.
This looks like bullish flag pattern that's forming on the daily TF and multiple wick rejections to the downside signify a strong bullish trend that may push the price higher.
Looking for only buy setups here. and targetting the 1800 and 1815 ranges this week as potential TP levels.
Price movement- consolidating in a channel the past couple of days before market closure.
This looks like bullish flag pattern that's forming on the daily TF and multiple wick rejections to the downside signify a strong bullish trend that may push the price higher.
Looking for only buy setups here. and targetting the 1800 and 1815 ranges this week as potential TP levels.
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Disclaimer
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.