XAU/USD 1H - As you can see price is well within a bullish corrective phase at the moment as its trading us higher, setting higher lows and higher highs. We have however got two areas of interest I would like to see price trade into and reject from.
We can expect price to potentially absorb the first one or deliver us with a minor correction fractally before a continuation higher within this higher timeframe correction, so its important we wait for as much confluence first before we do that.
As we know a break of structure gives us the confirmation needed to suggest price is reversing and a new trend is forming, a break in the last protected low is the confirmation we need in order to have that confirmation.
Ultimately its important we sit on our hands and wait patiently for price to play out as it should and offload and load up on the correct orders to give us the flip we need in order to enter in short on this market.
We can expect price to potentially absorb the first one or deliver us with a minor correction fractally before a continuation higher within this higher timeframe correction, so its important we wait for as much confluence first before we do that.
As we know a break of structure gives us the confirmation needed to suggest price is reversing and a new trend is forming, a break in the last protected low is the confirmation we need in order to have that confirmation.
Ultimately its important we sit on our hands and wait patiently for price to play out as it should and offload and load up on the correct orders to give us the flip we need in order to enter in short on this market.
