Like everybody knows Gold has been on the fall lately, responding to dollar strengh
A bearish flag is forming on the lower timeframes, we can spot it with the H2 candlesticks, and it's very well detailled on M15-M30.
I've put two alerts, one on the green trendline, another on the red,
If price breaks higher, then I'll look for entries around the 1900 level after the retracement is done, a bearish pin bar, a bearish engulfing, or an inside bar in the zone
If price breaks lower, then i'll look for a break that involves a M15-M30 closed candle on the other side of the red trendine, and place the stop loss above the structure
Cheers and trade safe!!!
A bearish flag is forming on the lower timeframes, we can spot it with the H2 candlesticks, and it's very well detailled on M15-M30.
I've put two alerts, one on the green trendline, another on the red,
If price breaks higher, then I'll look for entries around the 1900 level after the retracement is done, a bearish pin bar, a bearish engulfing, or an inside bar in the zone
If price breaks lower, then i'll look for a break that involves a M15-M30 closed candle on the other side of the red trendine, and place the stop loss above the structure
Cheers and trade safe!!!
Trade active:
15min closed under the flag, belts on!!!
Trade closed: target reached:
Right at the spot, nice!