DOUBLE BOTTOM FORMATION ON XAUUSD - HIGH PROBABILITY BUY SETUP

Sep 9, 2021

1. I took a long position now on gold after
ECB monetary policy statement.

2. Price tested the 1800 level during asian
and london session but plummeted down to our
buy side liquidity at 1785 level after ECB monetary policy
statement.

3. Price rejected the downside after testing our
buy side liquidity and formed a double bottom
(bullish price action)

4. I'm expecting a continuation of bullish momentum
at 1825 level.

5. I'd also like to point out that I'm bearish on DXY
that's why I didn't hesistate to take this trade.

SL is just below the level so if the price reverses to my buy entry, loss
would be minimal.

5.4RR

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Sep 10, 2021

Trade closed manually

1. I closed the trade manually as the price wasn't able to past through the 1803 and also DXY had bounced off on the major support level at 92.332