The corrective structure is almost finished XAUUSD / GOLD
Today, we want to share a bullish opportunity we are aiming to take in the short term
-We consider that the Flag Pattern is finished and has reached a critical level: the support zone + the ascending trendline. That provides us with a confluence situation.
-Now we expect a bullish movement from current levels towards 1950 (the next resistance zone)
-It's important to say that we will not take a trade right now. We want to see signals that the reversal is happening. For example, we want to see a breakout of the descending trendline inside the flag pattern + a throwback before developing setups.
-Now, we want to pay attention to the price action on the current area between the support zone and the descending trendline
-We have defined an invalidation level. IF the price reaches the red line, we will consider that the bullish view is not happening, and we should pay attention to more bearish pressure coming.
Thanks for reading!
-We consider that the Flag Pattern is finished and has reached a critical level: the support zone + the ascending trendline. That provides us with a confluence situation.
-Now we expect a bullish movement from current levels towards 1950 (the next resistance zone)
-It's important to say that we will not take a trade right now. We want to see signals that the reversal is happening. For example, we want to see a breakout of the descending trendline inside the flag pattern + a throwback before developing setups.
-Now, we want to pay attention to the price action on the current area between the support zone and the descending trendline
-We have defined an invalidation level. IF the price reaches the red line, we will consider that the bullish view is not happening, and we should pay attention to more bearish pressure coming.
Thanks for reading!
