LOOKING FOR THE NEXT LONG OPPORTUNITY
XAU/USD 4H - This market is one that has been very bullish over the course of the next 6 months especially, I believe this market is not going to be slowing down anytime soon especially with weakness in the USD.
We need to be looking for the next area that we can go long in this market, I have gone ahead and marked out two areas I have in mind for areas I feel price may trade down and into before taking us back up in the market.
We want to see price trade us down and into either area, for enough Demand to be introduced to then flip the S&D balance. We will have confirmation of this via a BOS to the upside.
Once we have that break of structure to the upside this is when we can prepare to take the market long, in order to get a refined entry we should wait for price to pullback initially trading into a more fractal area of Demand.
We need to be looking for the next area that we can go long in this market, I have gone ahead and marked out two areas I have in mind for areas I feel price may trade down and into before taking us back up in the market.
We want to see price trade us down and into either area, for enough Demand to be introduced to then flip the S&D balance. We will have confirmation of this via a BOS to the upside.
Once we have that break of structure to the upside this is when we can prepare to take the market long, in order to get a refined entry we should wait for price to pullback initially trading into a more fractal area of Demand.
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