Gold has formed a Double Bottom Chart Pattern on H1 (In an Uptrend!), With The most Recent HL (higher low) having a bounce with a bullish engulfing candle, from the 50-61.8% zone on the fib retracement. This means if price trades above the high of the bullish engulfing candle we could see price trade to the upside (see arrow). As always use proper risk management and make YOUR decisions.
Commentaire:
Price played out nicely. If you entered where I had the beginning of my arrow (where I entered), you would have a max draw down of 20-30 pips with roughly 90 pips profit. Nice 1:3.