Having just broken a 4H high i expect price to retrace back down to form the next LH to then continue bullish. Depending on how price plays out i may take some counter trend sells into buys. Will look for a clean 5M market shift bearish then a 1M entry.
I trade reactively as appose to trying to predict where price is going. So as of now we are bullish. I also only use 3 timeframes. (Blackwatch academy). I monitor price on the 4H &5M, once they align i will then enter on the 1M if the opportunity presents itself.
Price is pulling back to a 15 minute order block (refined to 5 minute). I am looking for price to retrace and go long to fill previous imbalance marked as the outlined box. I then used fib golden zone to add extra confluence.
This is my first time trading XAU/USD so we'll see how it goes!
Price is pulling back to a 15 minute order block (also refined to 5 minute). I am then looking for price to retrace and fill in imbalance marked up as the outlined square. I also used fib (golden zone) for extra confluence.
I am not usually a gold trader this is my firdt ever gold markup so we'll see how it goes!