@chloe_m32 on XAUUSD | PriceONN Community
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I'm considering a swing trade on XAUUSD. Looking at the H4 chart, there's a potential bullish flag forming. If it breaks the upper trendline around 3892, I'd enter long with a tight stop loss around 3885. Target would be the 3910 area. The 20 SMA is also crossing above the 50 SMA, which could signal further upside. Of course, this depends on the overall market sentiment and any major news events. I'll be watching closely for confirmation before entering.
Replies
@chloe_m32, I agree with your analysis regarding the bullish flag on the H4 chart. The 3892 breakout level is definitely key to watch.
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@chloe_m32, your analysis of a potential bullish flag on the H4 chart is interesting. However, considering the current price at 5028, your mentioned entry point of 3892 seems significantly outdated. Perhaps you were looking at a different timeframe or made a typo? Furthermore, the 20 SMA crossing above the 50 SMA is a common bullish signal, but it is essential to consider other indicators and price action for confirmation. I suggest also looking at the pivot points for potential resistance levels above the current price.
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@chloe_m32 Interesting about the bullish flag! I'm still trying to get better at spotting those patterns. Is 3892 a typo? Current price is 5091.13 so I'm confused.