XAU/USD 15M - As you can see price has penetrated a zone of interest, Supply has been introduced and it looks as though enough Demand has been offloaded for a potential reversal, I want to see structure break to the downside first before we do anything.
Once we have been delivered with a BOS to the downside, this is when we can then look to take part in this market, we must first get that piece of confluence as that suggests an end of one trend and the start of another.
When we have the BOS we can then look for an entry, an entry point can be found by looking at the impulse that broke the structure to the downside and finding an area of interest, this can be in the form of ICT or an OB. I will be looking to enter in from an OB.
Once price trades into the fractal OB we then want to see rejection from this and preferably another BOS to the downside as this suggests the end of the correction and the start of the next leg trading us lower.
Once we have been delivered with a BOS to the downside, this is when we can then look to take part in this market, we must first get that piece of confluence as that suggests an end of one trend and the start of another.
When we have the BOS we can then look for an entry, an entry point can be found by looking at the impulse that broke the structure to the downside and finding an area of interest, this can be in the form of ICT or an OB. I will be looking to enter in from an OB.
Once price trades into the fractal OB we then want to see rejection from this and preferably another BOS to the downside as this suggests the end of the correction and the start of the next leg trading us lower.
