JasonFosterII

XAUUSD May 12th Analysis

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
4H 20 Bollinger Band correcting and squeezing. 4H Bullish Flag Pattern. Rejection from 23.6 Fib level. Looking for TP at 1860 area.
Trade active
Comment:
Judging off how tight 200 bollinger band is on 15 min and how tight 4H is possible 50% Fib level TP. Rejection from 23.6 usually means a big move to continue trend. If price breaks 1860 swiftly and strong. Look for TP at 1880 for swing trade.
Comment:
30 min 200 BB squeeze. Fake breakout occurred. Still anticipating Long action. Currently in between pattern still.
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