Bull Flag Formation on H1
Updated
Our analysis for the week still stands and no changes to plans. Market volume low and not much movement. We will update any changes to our plans, as the week unfolds.
This is quick post of a bull flag formation identified and a fib extension at 50% inline with 1822. We don't rely on chart patterns alone, as they can be inaccurate but they work well alongside other indicators and analysis to support an overall projection.
We are looking for price to support here to continue further movement to the upside. If this support level breaks then the lower levels of 1782, 1771 and 1766 will be hit. We will still continue to buy dips and trade these levels unless 1766 is challenged and broken. This will change the structure in which case we will re-evaluate our setups
Please don't forget to like, comment and follow to support us;
GoldViewFX
XAUUSD TOP AUTHOR
This is quick post of a bull flag formation identified and a fib extension at 50% inline with 1822. We don't rely on chart patterns alone, as they can be inaccurate but they work well alongside other indicators and analysis to support an overall projection.
We are looking for price to support here to continue further movement to the upside. If this support level breaks then the lower levels of 1782, 1771 and 1766 will be hit. We will still continue to buy dips and trade these levels unless 1766 is challenged and broken. This will change the structure in which case we will re-evaluate our setups
Please don't forget to like, comment and follow to support us;
GoldViewFX
XAUUSD TOP AUTHOR
Trade closed: target reached
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