Hello my friends,
Today is the last day of August. I am taking it slowly since it is the monthly closing candle.
Today i am going to analyze XAUUSD as it has been long since my last trade with XAUUSD. I haven't found a good setup to trade yet so i didn't trade this pair.
What come to my mind after seeing the 4hr chart of XAUUSD at a glance are:
1. Price above the kumo cloud
2. Price broke above the descending trend line
3. Conversion line crossed above the base line
4. Parabolic SAR switched from above the price to below it
5. Full moon cycle is very near !!!
For those who are familiar with moon cycle, there is some cycle that go along with gold and it could offer a good opportunity to trade. But only looking to the technical is good enough to give us reason to long/buy XAUUSD
Buy XAUUSD 1963
Stop loss 1950
Take profit 1 @1976
Take profit 2 @1989
Take profit 3 @2002
Disclaimer: I am buying XAUUSD from 1963 as per this writing
RR ratio 1:3
Use only 1-2% risk
Good Luck
Today is the last day of August. I am taking it slowly since it is the monthly closing candle.
Today i am going to analyze XAUUSD as it has been long since my last trade with XAUUSD. I haven't found a good setup to trade yet so i didn't trade this pair.
What come to my mind after seeing the 4hr chart of XAUUSD at a glance are:
1. Price above the kumo cloud
2. Price broke above the descending trend line
3. Conversion line crossed above the base line
4. Parabolic SAR switched from above the price to below it
5. Full moon cycle is very near !!!
For those who are familiar with moon cycle, there is some cycle that go along with gold and it could offer a good opportunity to trade. But only looking to the technical is good enough to give us reason to long/buy XAUUSD
Buy XAUUSD 1963
Stop loss 1950
Take profit 1 @1976
Take profit 2 @1989
Take profit 3 @2002
Disclaimer: I am buying XAUUSD from 1963 as per this writing
RR ratio 1:3
Use only 1-2% risk
Good Luck
