VasilyPonomarev
Long

bullish flag pattern and trend continuation

FX:XAUUSD   Gold Spot / U.S. Dollar
hello traders,
great sentiment on gold             .
bearish flag pattern formation that you see on this chart is a perfect opportunity to follow up trend.
after each bullish wave occuring on markets on a daily bases it is essential for the market to be in correction afterwards.
on gold             , market is continuing establishing new highs so bullish flag in a great example of trend following pattern.
buying signal for us is a bullish breakout of flag's resistance.
stop always goes below lowest point of flag.
target is based on length of flag pole
snapshot
Comment: Attempt to go lower
Comment: back to the channel
Comment: Still in the channel
Comment: attempt to break
Comment: market is going up
Key area for reversal will be
Good luck and thank for the poste,
Reply
Omar87 Omar87
@Omar87, Key 1310 $ - 1300 $.
Reply
Hello, Vasily! Then why don’t you draw such a poles?
snapshot
Reply
if we dont lose 1324
+2 Reply
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