XAU/USD 1H - Above you will see that price has as of recently just tapped into a valid Supply zone. We have seen price tap in with good volume which is a good sign when we are looking for reversals from these points of interest.
What we want to see now is for price to break structure to the downside and deliver us with the confirmation we need in order to look to sell into this market.
I have also highlighted a demand zone below as well as I feel this may cause some interruptions with our bearish move so its important we highlight it as a potential for price to trade bullish temporarily.
You will see above the path I believe price will take, I will be looking to execute sells in this market once we have had the creation of a lower high on the higher timeframes (the high created after the penetration of the Demand zone) with my SL above the peak created and my TP at a higher TF swing low.
What we want to see now is for price to break structure to the downside and deliver us with the confirmation we need in order to look to sell into this market.
I have also highlighted a demand zone below as well as I feel this may cause some interruptions with our bearish move so its important we highlight it as a potential for price to trade bullish temporarily.
You will see above the path I believe price will take, I will be looking to execute sells in this market once we have had the creation of a lower high on the higher timeframes (the high created after the penetration of the Demand zone) with my SL above the peak created and my TP at a higher TF swing low.