Took a long position on gold trading with the trend My reasons behind entry
Daily: Yesterdays candle stick closed as a very strong bullish engulfing candle stick closing above resistance also respecting both moving averages as form of support
H4: price has broken structure and formed a new high and looks to be coming back to retest level of resistance to see if it can now hold as a level of support also currently rejecting 0.5 on fibs and the 20SMA
H1: Price is currently rejecting the 50SMA and 0.5 on fibs i like how previous candle stick closed showing that buyers could now be holding broken resistance as a level of support
What I dont like is how price formed a double top but I do like how strong the candle did close
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