Missed the goldbus this week? Here is your next opportunity

9 thg 5, 2021

The price broke the down-trendline of the bull flag (red line) and has now formed a hammer candle, which is also right upon an up-trendline (green line) and a significant horizontal support level. Aggressive traders can enter when the price confirms the hammer candle (0.43AUD) or you can wait until the price closes above 0.485AUD (this would end the correction of the bull flag). Target is the 1:1-1:1.6 Fibonacci extension of the former impulsive move and the stop will be placed at 0.33AUD.