Ok, Gold! You don't want to go lower, it's no problem! Let's think about your up movement... We have up trend, price which broke Moving Averages 20 and rising MACD
. DMI confirms trend conditions. For opening a long trade based on the daily chart
, we will need only bullish
candle which is closed above MA20. If we decide to open long trades without such bullish
candle, price can reverse from MA20 and move lower. Also long trades can be opened based on hourly charts, but only after confirmation of the daily chart's up movement.