LONGS BEFORE FURTHER SHORTS ON XAU/USD
XAU/USD 4H - Since Monday this week I have been calling longs on this pair, I understand that price has broken down giving us the bearishness we wanting from the Supply Zone to the left.
Price traded slightly above that before taking the dip to the downside, I believe that price is going to continue in this bearish way and just need to wait for price to trade into relevant areas before it does that.
I would love to see price continue in this bullish way, trading us up and into the Supply Zone, giving us the ability to buy and sell into this market, then once price has traded us up preparing for those short positions.
Its important we wait for confirmation before we do go short, as we know this would come from price trading in, breaking structure to the downside then correcting initially before trading lower longer term.
Price traded slightly above that before taking the dip to the downside, I believe that price is going to continue in this bearish way and just need to wait for price to trade into relevant areas before it does that.
I would love to see price continue in this bullish way, trading us up and into the Supply Zone, giving us the ability to buy and sell into this market, then once price has traded us up preparing for those short positions.
Its important we wait for confirmation before we do go short, as we know this would come from price trading in, breaking structure to the downside then correcting initially before trading lower longer term.
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