XAUUSD Long Direction: - Gold has Bullish Momentum and is still in a Bullish Cycle, as it is making higher lows and higher highs (Bullish Order Flow). - Due to the current global issues confidence in gold is rising.
Entry: - The pair pulled back to the low of the OB (Order Block), so as long as it held the low this was the perfect entry to go long. - The candle where I entered closed above the 200 EMA and pinned it where the low of the OB was. This indicated a very probable buy trade. - The 200 EMA acted as a resistance point. - RSI crossed back into the volatility bands (Shark-fin) near the 32. This indicated price was going to rise and that the pair was near being oversold.
Exit: - SL @ below the lower OB (just in case it came back for that lower low). - TP 1 @ the point where the RSI crosses the Signal Line. This indicates an exit of the trade. - TP 2 @ just below Weekly High.