XAUUSD - Bullish Hammer

FX:XAUUSD   Gold Spot / U.S. Dollar
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I don't trade gold             , but I see a nice setup with a good R/R.

Long after the bullish tail last friday.
it could very well be, especially as a butterfly SELL has been completed on Friday with extreme level of PA, i.e. price extended beyond standard deviation 2, so now we are seeing some pullback. but all significant MAs have been breached, price stands below monthly, weekly and daily pivots, price is back into the ichimoku cloud on monthly, and all we have in way of SPPT on daily is the 50% fib (already tested once), DPS1, and the top of the ichimoku cloud (around the same level as DPS1, before next SPPT levels of 1,277.6 = 61.8% fib and 1,272.0 the previous low. indicators on daily just came out of OB and are now in bearish zone. so far everything is point down.
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