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THOUGHTS ON XAU/USD
XAU/USD 4H - With this market I am expecting further bearish but I feel we may see price continue correcting itself as it is doing now trading us up and into a relevant area of Supply before taking us lower in the market.
I have gone ahead and marked out a fractal area of Demand I feel price could trade into before taking us higher up and into the Supply Zone I also have marked out for us above. It is important we wait for confirmation before we get involved.
In order for us to look to go long in this market before we go short, I want to see price trade us down and into the Demand Zone, once price trades us in we want to see a fractal BOS to the upside, this confirms the end of the fractal correction.
This is when we have confirmation to start looking to go long in the market. I will be looking to take profit just below the Supply Zone above and I will be setting my SL below the Demand Zone I enter in from.
（Source from: TV-By Lukegforex）