LOOKING TO GO LONG ON XAU/USD
XAU/USD 1H - This market looks to be currently putting in a corrective wave to the upside before a continuation lower on the higher timeframes, so with that being said we could look to go long.
I have waited for price to trade us down and into a valid FVG, we are seeing price reject well from this zone up to now. I have set my SL below the 50% mark, this is slightly aggressive and hold risk as its not below the entire zone.
I now wanting to see the introduction of bullishness being put into the market, giving us the structure we want so we can profit well in this market, I have set my TP just below the Supply Zone above as I am expecting price to trade lower once we penetrate that zone.
Demand will be offloaded and Supply will be introduced into the market, giving us the S&D flip we want in order for price to continue trading us lower.
I have waited for price to trade us down and into a valid FVG, we are seeing price reject well from this zone up to now. I have set my SL below the 50% mark, this is slightly aggressive and hold risk as its not below the entire zone.
I now wanting to see the introduction of bullishness being put into the market, giving us the structure we want so we can profit well in this market, I have set my TP just below the Supply Zone above as I am expecting price to trade lower once we penetrate that zone.
Demand will be offloaded and Supply will be introduced into the market, giving us the S&D flip we want in order for price to continue trading us lower.
