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.