XAU/USD - BULLISH BUY ENTRY
This chart currently shows the D1 timeframe for the asset GOLD. According to my strategy, gold moves in series of RBR - Rally Base Rally, when in an uptrend with the base being the last bearish candle printed before a bullish push. On the chart above, Gold rallied, printed a base marked with a blue zone, and rallied further upwards. Now, for continuation entries to remain bullish, we are looking to buy at the retest of the base and have our stop loss below the order block. We are targeting the recent highs for a 1:4 risk-reward ratio. Going into this new week, we've experienced three weeks of consolidation. Hopefully, a new event can trigger volatility to reach our OB and provide buying opportunities.
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