Quick Gold Long Position

٥ أبريل ٢٠١٦

On this 1 hour time frame, price has retraced towards the weekly pivot, breaking through the resistance of 1st April. The 50 and 200 EMA both play a confirmation in this trade as price bounces of both moving averages. My take profit is placed at just a few pips below the Weekly Resistance 1 Pivot Point/Monthly Pivot Point.