XAU/USD 1H - Who managed to get in on the shorts I predicted last week? We have seen price put in a lovely bear leg after trading us into the Supply Zone above.
As predicted we wanted to see price trade lower after penetrating the Zone I had marked out and it did exactly that, giving us 5RR worth of returns from any short positions that may have been placed.
We are now seeing price come to continue trading us higher, this may be because enough Supply was not introduced to give us the full S&D flip we were expecting, this is not an issue for us and I will be waiting on further data to decide my next move.
If price goes on to trade above the last high created when trading into the Supply Zone we can expect that actually price may continue this bull run further before taking another move lower. I will keep you all posted on how I look to tackle this market moving forward!
As predicted we wanted to see price trade lower after penetrating the Zone I had marked out and it did exactly that, giving us 5RR worth of returns from any short positions that may have been placed.
We are now seeing price come to continue trading us higher, this may be because enough Supply was not introduced to give us the full S&D flip we were expecting, this is not an issue for us and I will be waiting on further data to decide my next move.
If price goes on to trade above the last high created when trading into the Supply Zone we can expect that actually price may continue this bull run further before taking another move lower. I will keep you all posted on how I look to tackle this market moving forward!
