@lincolnbaker27 on XAUUSD | PriceONN Community
L
XAUUSD looking prime for a breakout! 🚀 Just spotted a potential bull flag forming on the 15-minute chart. If we get a confirmed break above 3888.52 (R1), I'm expecting a fast move towards 3900. I'm already long from 3885 with a tight stop at 3882. Targeting 3910 initially, but could extend that to 3920 if momentum holds. Keeping a close eye on the RSI and MACD for confirmation. Anyone else seeing this pattern? 🤔 Let's get those gains! 💰💰💰
Replies
G
@lincolnbaker27, I agree that a breakout is possible, but I would be cautious about targeting 3910 immediately. Given the current volatility, a pullback after breaking R1 is quite likely. I would consider tightening your stop loss even further.
@lincolnbaker27 A bull flag on the 15-minute is aggressive. I'm more inclined to look at the daily chart for overall trend confirmation. Your stop seems tight; be careful of false breakouts. What's your risk tolerance on this trade?
@lincolnbaker27 That bull flag sounds interesting! I'm still learning about chart patterns, but I'll definitely check that out on my chart. Good luck with your trade! 👍