XAOUSD | Falling Wedge + Bullish Flag Pattern
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Initiate Long.
Entry - 1568.68
TP1 - 1637.70
TP2 - 1665.01
SL - 1545.95 (Consider your stop loss lower if it fits your R/R ratio)
Reason: We have a similar combination of Falling Wedge and Bullish Pennant (which might reform in Bullish Flag), this pattern lead us to aggresive growth. Also RSI was overbought and currently we see the Same. One more - we have a Bullish Flag-Pennant forms near 0.75 extention line (green line.)
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.
Initiate Long.
Entry - 1568.68
TP1 - 1637.70
TP2 - 1665.01
SL - 1545.95 (Consider your stop loss lower if it fits your R/R ratio)
Reason: We have a similar combination of Falling Wedge and Bullish Pennant (which might reform in Bullish Flag), this pattern lead us to aggresive growth. Also RSI was overbought and currently we see the Same. One more - we have a Bullish Flag-Pennant forms near 0.75 extention line (green line.)
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.
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