XAU/USD 1H - As you can see this market has given us some good signs of a potential bear run with the recent move that has seen price trade us to the downside.
Now in order for us to the have the confirmation that price is in fact ready to take a move to the downside longer term, we need to see price break the last protected low.
Once price has broken the last protected low, we then have the confirmation that this market is no longer respecting the laws of bullishness but its now respecting the laws of bearishness.
From here we want to see a continuation in this bearish structure and we can expect that price will have to come back up into an area of Supply in order to continue the bearish momentum.
This is why I have gone ahead and marked out a valid area of interest above that I feel price may come to trade up and into before a move lower.
Now in order for us to the have the confirmation that price is in fact ready to take a move to the downside longer term, we need to see price break the last protected low.
Once price has broken the last protected low, we then have the confirmation that this market is no longer respecting the laws of bullishness but its now respecting the laws of bearishness.
From here we want to see a continuation in this bearish structure and we can expect that price will have to come back up into an area of Supply in order to continue the bearish momentum.
This is why I have gone ahead and marked out a valid area of interest above that I feel price may come to trade up and into before a move lower.