Gold Bull Flag Formation

FX:XAUUSD   Gold Spot / U.S. Dollar
Is this a bull flag?
1st scenario:The low of 1142 is the flag pole which we will use as our next measure move should it materialise.
Measured move currently is 1224 - 1142 = 82 points.
2nd scenario: After it hit 1224, price retraced 50% and bounced off support at 1183
3rd scenario: The flag is tilting at an approx angle of 45

Having completed all the above checklist, we will not rule out that gold             could breakout and resume higher by at least 82 points.

Game Plan: Buy on breakout at 1214 stop at 1194 (risk is 20). Target is 1244 to raise stop to break even but main target is 1294 (which will fit in with the long term downtrend line).
Risky Traders: Buy in the flag with stop at 1173. Target remain the same.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out