XAUUSD Asia- Long Opportunity 1:5 RR
Good Morning Asia,
This morning, I'm anticipating a long from 2510.50 towards a prior imbalance at 2510.10. I'll be waiting for a 1 mins entry confirmation if price pulls back towards my entry zone. Price is currently in a bullish cycle on the 15mins and 30mins.
It is important to note that the H1 timeframe still seems to be in a bearish cycle (see chart-shot below) with the final more aggressive phase of the cycle still pending. I see price building up liquidity at the moment before the final expansion to the downside potentially later today.
Happy Trading.
This morning, I'm anticipating a long from 2510.50 towards a prior imbalance at 2510.10. I'll be waiting for a 1 mins entry confirmation if price pulls back towards my entry zone. Price is currently in a bullish cycle on the 15mins and 30mins.
It is important to note that the H1 timeframe still seems to be in a bearish cycle (see chart-shot below) with the final more aggressive phase of the cycle still pending. I see price building up liquidity at the moment before the final expansion to the downside potentially later today.
Happy Trading.
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