XAU/USD 4H - How we getting on people, not provided an update on this pair for a few days now so I thought I would do so now and show how my predictions are playing out well so far.
As you know previous to this piece of analysis I wanted to see this market reverse essentially and start trading us higher, what we are seeing at the moment is the market doing just that. This was predicted down to the lack of strength present in terms of Supply.
What we are seeing now is price put in a corrective wave that will hopefully trade us up and into the higher TF Supply zone I have marked out for you all at 1909-1917. Once price penetrates this zone we can expect enough Supply to be introduced to stop the correction in its tracks and initiate a new move lower.
From there we can look to sell longer term in this market, but until then we should be looking for potential buy positions to trade us into this Supply zone, you will notice I have highlighted two potential buy zones for you that have been left on the fractal structure.
As you know previous to this piece of analysis I wanted to see this market reverse essentially and start trading us higher, what we are seeing at the moment is the market doing just that. This was predicted down to the lack of strength present in terms of Supply.
What we are seeing now is price put in a corrective wave that will hopefully trade us up and into the higher TF Supply zone I have marked out for you all at 1909-1917. Once price penetrates this zone we can expect enough Supply to be introduced to stop the correction in its tracks and initiate a new move lower.
From there we can look to sell longer term in this market, but until then we should be looking for potential buy positions to trade us into this Supply zone, you will notice I have highlighted two potential buy zones for you that have been left on the fractal structure.
