Quick Gold Long Position

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
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 .
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