360
Long

50MA/200MA Golden Cross (pending)

FX:XAUUSD   Gold/U.S. Dollar
433 3 4
50MA is about to cross 200MA to the upside. This is considered to be "The Golden Cross" . Golden Cross can be excellent sign of where a market is headed. , and is a buy and hold signal.
Inverted head and shoulders pattern can be seen on the chart as well. Multiple shoulders are marked and along with a upwards neckline are signalling powerful move to come.
Additionally we have a pin bar off of a bullish channel support (light red line).
Based on this (and previous analysis i have posted) i am a buyer in this market.

GAME PLAN: 500MA to cross 200MA - buy and hold. I might enter a bit aggressively as shown on the chart. Will see how the market opens. GL
360
2 years ago
Additional chart with blues neckline retested and rejected.
snapshot
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Regulus9
2 years ago
Great analysis! have the same view with you for this pair. Let's get those pips! :)
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360 Regulus9
2 years ago
Sure thing :) If my view is same as your , i can't go wrong :)
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