Sangev β’ 2023-07-30
End of Month Cycle + Video Explanation on XAU/USD
End of month cycles are lovely, they often offer very good ranges that one can take advantage of - especially with gold.
We often hear that the precious metals market donβt move much during the summer months, but if we look at the past few years, we can see major moves that either occur and or setup during these times.
Note the seasonal tendencies of XAU/USD
One of my favorite setups occurs when price takes out large areas of liquidity, as it often sets us up for an easy range to rebalance (retrace).
The 4hr is a great indication of this, we can see price respecting the HTF OB before attacking the lower levels of liquidity which offered the rebalance/retrace we anticipated.
There are multiple ways to entry here, whether its based off LTF or HTF - but these concepts will be discussed in another post.
Video on this weeks analysis - CHEERS
Cardy
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