Hello my friends,
Another trade setup for today before i am going offline.
As you can see, XAUUSD recently dropped 580 pips in only 1 day.
It finally find support at EMA-200 of 1hr timeframe.
In my opinion, we could see some bounce to the upside. Maybe to test 1936 area.
Notice also there is an inside bar pattern occurs at support.
When an inside bar occur at support/resistance, it usually could be a reversal pattern.
So after the hard drop, we might see some upwards movement.
Buy XAUUSD 1916
Stop loss 1908
Take profit 1936 (2.5R)
RR Ratio 1 : 2.5
Use only 1-2% risk
Good luck
Another trade setup for today before i am going offline.
As you can see, XAUUSD recently dropped 580 pips in only 1 day.
It finally find support at EMA-200 of 1hr timeframe.
In my opinion, we could see some bounce to the upside. Maybe to test 1936 area.
Notice also there is an inside bar pattern occurs at support.
When an inside bar occur at support/resistance, it usually could be a reversal pattern.
So after the hard drop, we might see some upwards movement.
Buy XAUUSD 1916
Stop loss 1908
Take profit 1936 (2.5R)
RR Ratio 1 : 2.5
Use only 1-2% risk
Good luck