See that bottom Bollinger Band?... Where it meets the Ichimoku Cloud? I only throw on indicators like that when I get feeling froggy. But considering the overlapping fibs, I expect XAU/USD to react when it hits that band. It may not reverse, but I would think it would at least need to consolidate in order to turn it down. I talked about the pattern I think it is gonna make it today's live stream on youtube- link below. I can't just say to buy it and go for the gusto, but as I scalp it, I will keep in the back of my mind the possibilities and leave some to run when I have the right position. Can price turn the band down? Can you get Monthly candle wicks?... Absolutely, but I will look for price to react and will at least get me a nice buy scalp I bet...
Comment:
keep in mind, when you get major trend line breaks on a high time frame, Price usually pulls back to at least test..