Active Swing trade idea on XAUUSD. The price of Gold imo is too inflated and was just the result of panic in the world due to the US Election. Price rejected this area previously and price is returning to the area with less volume. I react to the market rather than trying to predict however the amount of scale in opportunities that will be available make it worth the risk.
At market open I will be looking for a reaction from the yellow zone in confluence with the fib levels. Once momentum has shifted and price has printed a rejection candle, I will enter
Looking at the current structure I can see a few areas of the market the price can potentially reach. Only react to the market never try to predict it, all you can do is be prepared for when it reaches your area or matches your own trade criteria. These are just possible trade opportunities I think will form
Price is respecting the higher timeframe fib and made it first push away from the area. Looking for price to pull back into the resistance zone for a second test for an entry. Will wait for lower timeframe confirmation and momentum before entering
After respecting the higher timeframe trendline and support area price broke structure and previous resistance zone while respecting the fib. waiting for more lower timeframe structure to print before entering
Price is currently trending downward on the higher timeframes with momentum. So I will be looking for price to give sell signals around my area of intertest with clear price action to the downside BEFORE I enter, to keep RR High and limit my mistakes
On the 1H timeframe price broke the previous structural high and ranged before trending down. Currently I'm looking for price to react off of the area marked (Green) to look for entries since this is a swing trade. I'd like to see a clear trend shift on the lower time frames before entering to maximize RR and to reduce the chance of getting caught in the noise or...
