XAUUSD, Daily tf, buy bullish inside bar setup

8 ביולי 2021

I found an interesting setup for XAUUSD.
As you can see i've marked the weekly horizontal support and resistance. We're currently holding above 1797 support level after breaking above it yesterday with a solid candle close.

Notice that the last 2 daily candles are inside bar pattern. Today daily candle already break above the mother candle and this downwards movement looks like a retest of support for me.

We're provided with 5R trade setup so i think it is worth to try this buy position.

Buy XAUUSD 1797
Stop loss 1788
Take profit 1842 (5R)

Use only 1-2% risk
Good luck