XAU/USD 4H - With this market we can see how to begin with the volume in Supply was quite large causing there to be gaps and inefficient structure left behind, giving reason for price to trail back. As time has gone on we have seen price actually start to slow, suggesting that this initial move lower is coming to an end.
Once we are delivered with confirmation that this market has finished this impulsive wave, we can then look for buying opportunities as we have managed to distinguish two Supply zones that price could come back up to before taking us lower.
This gives us a target to take profit on any buy positions we do go onto place but it also gives us a zone and area for us to look to sell from. As always we just need to ensure that we are delivered with all the confirmation needed in order to execute a position. A break of structure to the opposing side would confirm an end to the current trend and the start of another, all we need to do then is wait for a pullback to give us a refined entry.
Once we are delivered with confirmation that this market has finished this impulsive wave, we can then look for buying opportunities as we have managed to distinguish two Supply zones that price could come back up to before taking us lower.
This gives us a target to take profit on any buy positions we do go onto place but it also gives us a zone and area for us to look to sell from. As always we just need to ensure that we are delivered with all the confirmation needed in order to execute a position. A break of structure to the opposing side would confirm an end to the current trend and the start of another, all we need to do then is wait for a pullback to give us a refined entry.
