And fellas, here is I present you the bias on XAU/USD pair. Somehow it's still moving in neutral zone and the price still maintains the huge bullish flag pattern which currently the price moving in its flag pattern (down trend channel). There are 2 conditions that can give us a potential confirmation of future direction
The first condition is becoming my main scenario of bitcoin. Whenever we saw a bullish flag pattern, it will become our obligation to look for the upside break of the flag pattern which usually become the up trend confirmation. And the thing will becomes more interesting while we are seeing at the upper line of the channel, it's moving align with the previous broken support that is now become resistance. So, breaking out of this current resistance will obviously lead the price to the previous top at least.
The 2nd condition is the condition that I personally don't like too much but based on the statistic, this condition could likely to be formed too. It is if the price fail to surpass current strong resistance and lose the yellow support trend line. we might see another bearish pressure toward the next support zone around $1430 zone.
We might see one of these 2 condition being met in this week hopefully. And as long as the price haven't got any confirmation from those 2 conditions, make sure you're in idle position otherwise you'll get faking out.
The first condition is becoming my main scenario of bitcoin. Whenever we saw a bullish flag pattern, it will become our obligation to look for the upside break of the flag pattern which usually become the up trend confirmation. And the thing will becomes more interesting while we are seeing at the upper line of the channel, it's moving align with the previous broken support that is now become resistance. So, breaking out of this current resistance will obviously lead the price to the previous top at least.
The 2nd condition is the condition that I personally don't like too much but based on the statistic, this condition could likely to be formed too. It is if the price fail to surpass current strong resistance and lose the yellow support trend line. we might see another bearish pressure toward the next support zone around $1430 zone.
We might see one of these 2 condition being met in this week hopefully. And as long as the price haven't got any confirmation from those 2 conditions, make sure you're in idle position otherwise you'll get faking out.
