This buy setup shows a potential trade on XAUUSD (Gold) where a 1-hour bullish engulfing pattern forms. The price has been in a downtrend but is showing a reversal signal with the formation of the bullish engulfing candle. The buy entry is likely at the blue zone, with stop loss below the green zone for risk management. The target is the higher green zone, indicating a move up if the setup plays out as expected.
Trade active
Trade closed manually
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.