XAU/USD 4H - As you can see price is currently within a bullish correction on the fractal nature of this higher timeframe bearish move. We could look to take part in this bullish correction before the next leg lower however as we know this holds risk.
If we are to look to take this market long up and into the Supply Zone above, we need to wait for price to trad back down and into a fractal area of Demand. This gives us the ability to get involved in this market with a refined entry.
We should look to take profit in any longs round the 2373 area, this allowing our TP to be achieved, once price trades us up and into this area I want to see price distribute and give us the confirmation of a the next bear run.
Once price does trade us up and into this area of Supply we can expect the S&D balance to flip again and for price to begin trading us lower, its important we wait for the BOS before we look for those shorts though.
If we are to look to take this market long up and into the Supply Zone above, we need to wait for price to trad back down and into a fractal area of Demand. This gives us the ability to get involved in this market with a refined entry.
We should look to take profit in any longs round the 2373 area, this allowing our TP to be achieved, once price trades us up and into this area I want to see price distribute and give us the confirmation of a the next bear run.
Once price does trade us up and into this area of Supply we can expect the S&D balance to flip again and for price to begin trading us lower, its important we wait for the BOS before we look for those shorts though.