XAU/USD 1H - As you can see above this is the setup I have for this market, in order for this to come to fruition we would need to see this market break down and produce us with the bearishness we desire.
This will come if we see price tap into a Supply zone above, I thought that with price recently tapping into the Supply zone highlighted that enough would have been introduced to reverse this market, evidently not.
It looks as though the Supply and Demand balance is still in favour of demand, hence the continuation in bullishness. When we see price break down taking us lower, I am expecting a pullback from the demand zone highlighted.
The temporary bullishness that it will produce will allow us to get in on a refined entry at a better price allowing us to increase our RR and the swing we take part in.
This will come if we see price tap into a Supply zone above, I thought that with price recently tapping into the Supply zone highlighted that enough would have been introduced to reverse this market, evidently not.
It looks as though the Supply and Demand balance is still in favour of demand, hence the continuation in bullishness. When we see price break down taking us lower, I am expecting a pullback from the demand zone highlighted.
The temporary bullishness that it will produce will allow us to get in on a refined entry at a better price allowing us to increase our RR and the swing we take part in.