⚠️Gold closed on Tuesday, forming a bullish flag pattern on an hourly chart, indicating a market correction following a strong upward wave.
A breakout above the resistance line with a candle close will likely signal a continuation of the trend, with a high probability of the price rising to at least a new higher high.
However, keep in mind that the price may respect the trend line multiple times and corrections could be prolonged, which is why we depend on a reliable breakout as a trigger.
A breakout above the resistance line with a candle close will likely signal a continuation of the trend, with a high probability of the price rising to at least a new higher high.
However, keep in mind that the price may respect the trend line multiple times and corrections could be prolonged, which is why we depend on a reliable breakout as a trigger.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.