Hello dear precious metals friends, hope you're doing well guys! ;)
Gold has a perfect Bull Flag EQ range ongoing currently on the 4H chart. For the case we see a short break, we will have the previous highs of $1,450, now potentally turned into an S&R zone, or of course, we could look to build higher Lows even prior to that.
For the case of a bullish breakout, we could go into the 2013 S&R zone of $1525-1550, where we definitely will have to expect a big reaction from the bears, since we're gonna be overbought on the bigger timeframes + at this crucial S&R zone at the same time.
Have fun watching! ;)
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Gold has a perfect Bull Flag EQ range ongoing currently on the 4H chart. For the case we see a short break, we will have the previous highs of $1,450, now potentally turned into an S&R zone, or of course, we could look to build higher Lows even prior to that.
For the case of a bullish breakout, we could go into the 2013 S&R zone of $1525-1550, where we definitely will have to expect a big reaction from the bears, since we're gonna be overbought on the bigger timeframes + at this crucial S&R zone at the same time.
Have fun watching! ;)
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
