XAUUSD, 1hr tf, double bottom on EMA-200Hello my friends,
For today i am gonna try buying XAUUSD.
It has been long since i trade XAUUSD because there is no good setup to trade yet.
Finally i found something interesting on the 1hr chart of XAUUSD.
Price currently hovering above the 200-EMA and i think it will served as strong support for XAUUSD now.
EMA-200 already hold XAUUSD for 2 weeks since price broken above it on 15th December 2020.
In my opinion it now forming a double bottom pattern and we might see price continue going up.
There is a strong resistance ahead at 1900-1906 area so we will only buy XAUUSD for a short moment.
As long as 1900-1906 hold as a resistance, there is no point in holding XAUUSD for too long.
Instead we will try capitalizing each swing.
Buy XAUUSD 1878
Stop loss 1870
Take profit 1894 (2R)
RR Ratio 1 : 2
Use only 1-2% risk
Good luck
