Likely reversal in XAUUSD
XAUUSD was previously in downtrend, printing LHs and LLs. However a bullish divergence has been observed on RSI on 1H timeframe. On further observation, a falling wedge bullish reversal pattern was also seen forming confirming our bullish bias. Entry has been confirmed by upward breakout of the pattern; long entry is placed upon breakout of previous LH through a Buystop order. Suitable SL and TP have been placed on chart.
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