XAU/USD 1H - Above you will see a full path that I have drawn out for you all on how I see this market playing out this coming trading week.
I believe that we could look for selling opportunities once we are delivered with a penetration of this higher timeframe POI. A penetration from this zone should conclude this current trend and start a new bearish one.
With enough supply being introduced I am confident that price will go on to trade us lower in the market. In order for us to get involved in this market we need the right confirmation in order to do so, this could come from a BOS to the downside.
Once we are delivered with the relevant confirmation we can look to sell into this market, my SL will be placed above the structural high created from the penetration and the TP will be set at the higher TF swing low.
I believe that we could look for selling opportunities once we are delivered with a penetration of this higher timeframe POI. A penetration from this zone should conclude this current trend and start a new bearish one.
With enough supply being introduced I am confident that price will go on to trade us lower in the market. In order for us to get involved in this market we need the right confirmation in order to do so, this could come from a BOS to the downside.
Once we are delivered with the relevant confirmation we can look to sell into this market, my SL will be placed above the structural high created from the penetration and the TP will be set at the higher TF swing low.