Why we should be on buying position on Gold(XAUUSD) at this moment

Following daily chat, Gold present a great buying opportunity after retesting the previous low which made it formed what we call double bottom . This double bottom as a terminology in pattern analysis is bulish.

Again , looking at the downard movement of gold before reaching the previous low it also form what we call a falling wedge which is also bulish were ever it end.
In summary , Combining double bottom, falling wedge that form together with stochastic indicator hiting the bottom , all represent a buying opportunity. And that is why we are favouring a buying position.