XAUUSD (Gold) Long Setup | Bullish Flag Breakout
📌 Entry: 2916.8 (Entry after breakout confirmation)
🛑 Stop Loss: 2895.0 (Below the flag support)
🎯 Target 1: 2945.0 (Previous structure high)
🎯 Target 2: 2970.0 (Major resistance level)
🔍 Setup Explanation:
• A bullish flag pattern has formed, and a breakout is occurring.
• Trendline breakout has been confirmed, with a potential higher low formation or direct upward move.
• If strong bullish momentum continues, price may reach 2945-2970 levels.
📌 Risk Management:
• Placing SL at 2895.0 helps to avoid fake breakouts.
• Risk-to-reward ratio (R:R) = 1:3+, making it a profitable setup
📌 Entry: 2916.8 (Entry after breakout confirmation)
🛑 Stop Loss: 2895.0 (Below the flag support)
🎯 Target 1: 2945.0 (Previous structure high)
🎯 Target 2: 2970.0 (Major resistance level)
🔍 Setup Explanation:
• A bullish flag pattern has formed, and a breakout is occurring.
• Trendline breakout has been confirmed, with a potential higher low formation or direct upward move.
• If strong bullish momentum continues, price may reach 2945-2970 levels.
📌 Risk Management:
• Placing SL at 2895.0 helps to avoid fake breakouts.
• Risk-to-reward ratio (R:R) = 1:3+, making it a profitable setup
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.
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.