THOUGHTS FOR XAU/USD
XAU/USD 30M - With this pair we have seen price trade us up and into the area of Supply I have marked out. After price traded in we saw price break structure fractally to the downside.
This giving us reason to believe that price may be ready to put in the next bearish leg, what we need now is for price to correct itself trading us into a valid area of interest to set its first lower high.
This is what it looks like its currently in the process of doing. In order for us to have confirmation to enter and enough confluence to actually place a position I would want to see price break structure again more fractally.
Once it trades us up and into this Supply Zone I want to see another break on the 5-15M timeframes, this confirming the end of the initial correction and the start of the impulse lower.
This giving us reason to believe that price may be ready to put in the next bearish leg, what we need now is for price to correct itself trading us into a valid area of interest to set its first lower high.
This is what it looks like its currently in the process of doing. In order for us to have confirmation to enter and enough confluence to actually place a position I would want to see price break structure again more fractally.
Once it trades us up and into this Supply Zone I want to see another break on the 5-15M timeframes, this confirming the end of the initial correction and the start of the impulse lower.
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