XAUUSD - Gold getting pinched for a breakout

17 мая 2018 г.

Gold has been forming something like a reverse flag pattern where the flag actually points the same direction as the flag pole, or in other words price rapidly fell and the flag is in a descending angle as well. These types of patterns can actually be bullish reversal signals. The flag is descending into a support area and could cause a sharp direction move as price attempts to break out. I would want to enter on a bullish breakout of the flag.