XAUUSD PREMARKET ANALYSIS- 5 May, 2021, 1611 CT
OVERALL TREND BIAS- BULLISH
Price movement- consolidating in a channel the past couple of days before market closure.
This looks like bullish flag pattern that's forming on the daily TF and multiple wick rejections to the downside signify a strong bullish trend that may push the price higher.
Looking for only buy setups here. and targetting the 1800 and 1815 ranges this week as potential TP levels.
Price movement- consolidating in a channel the past couple of days before market closure.
This looks like bullish flag pattern that's forming on the daily TF and multiple wick rejections to the downside signify a strong bullish trend that may push the price higher.
Looking for only buy setups here. and targetting the 1800 and 1815 ranges this week as potential TP levels.
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