LOOKING TO GO SHORT ON XAU/USD
XAU/USD 4H - As you can see from this screenshot I am wanting to see price trade us lower from the Supply Zone I have marked out, price trading into this and rejecting to the downside builds confluence.
If you are wanting to be less pre-emptive and wait for entry confirmation you will need to go to the lower timeframes, like the 15M & 5M. This will allow you to get your fractal breaks of structure to the downside to confirm a reversal in trend.
a BOS would suggest enough Supply has been introduced to flip the balance, putting an end to this current bullish correction and starting the next bearish leg trading price lower. If you are a higher timeframe trader or someone who is more aggressive with there approach a penetration and rejection may be enough.
I will be looking at the lower timeframes for additional confluence for you all, but this is a trading opportunity we could look to take advantage of, I will provide further analysis on this pair shortly.
If you are wanting to be less pre-emptive and wait for entry confirmation you will need to go to the lower timeframes, like the 15M & 5M. This will allow you to get your fractal breaks of structure to the downside to confirm a reversal in trend.
a BOS would suggest enough Supply has been introduced to flip the balance, putting an end to this current bullish correction and starting the next bearish leg trading price lower. If you are a higher timeframe trader or someone who is more aggressive with there approach a penetration and rejection may be enough.
I will be looking at the lower timeframes for additional confluence for you all, but this is a trading opportunity we could look to take advantage of, I will provide further analysis on this pair shortly.
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