Tuesday - XAUAUD Daily 4hr 1hr What I'm looking for: A larger or smaller than expected cut in AUD rate Price to break out the corresponding side of the range (larger cut = price up , Smaller cut = price down) I will look for entries in line with the order flow If there is no surprises I will not be looking for any entries until a price shows a strong bias for a particular direction
Wednesday - XAUUSD 1hr 15min What I'm looking for: 1. A long entry on a 15min or lower TF while the trend is still active
Thursday - XAUUSD 4hr 15min What I'm looking for: 1. a long entry on a lower time frame (LTF) as long as the minor bull trend holds 2. If that breaks I'll look for a channel overshoot and bullish reversal from 2908 -2915
12hr 2hr 30min What I'm seeing: Mkt is still trending on Higher Time frames (HTFs) but is range bound below the 1hr TF What I'm looking for: A retest and reversal back up from 2915-2920 for a long entry I'm still a little unsure on this support so I will only look for entries after a strong sign of bullish strength A large move down to retest around 2875. I'll be more aggressive in buying any reversal on a LTF if I get a 3 push down Overshoot
Good stuff, Hopefully it turns into a nice trade for you. What was it that made you want to go short near the ATHs?
Tuesday XAUUSD Daily 1hr 30min What I'm seeing: Price keep grinding its way back to the top of the range with many sharp pullbacks There is readable price action within the range but price keeps overshooting support and resistance. High probability of being stopped out on a random spikes What I'm looking/waiting for: Better conditions
Agree price keeps grinding higher and higher. Much like US equity Indexes most trend days. H1 chart of mine shows HH's / HL's so I wouldn't say it is necessarily messy price action. Today (Monday) was yet another record closing high so still waiting for the beginning of the eventual correction to be confirmed.
I see what you mean about the 1hr chart is still showing a bullish trend but the Lower Time Frames (LTFs) are giving me reason to pause. Here is an example of what I would call clean Price Action (PA) 5min -XAUUSD 20th Feb 2025 *I didn't mark in on the chart but you can see: At the top of the chart, the first time the previous high fails to hold price makes a strong move down breaking support. It then fails to make a new high showing that resistance was now holding and support was more likely to break* Here is an example of the TF from the past 24hrs 5min -XAUUSD 24-25th Feb 2025 I see both support and resistance breaking almost at random. The strongest moves are during sell offs meaning that even a good long entry near support will likely be stopped out. If price breaks out above 2950 will you look to get onboard or will you wait for a larger pullback to something like 2800?
As you've pointed out M5 is bearish LH's/LL's, though H1 still bullish HH's/HL's if current (700am NYT bar) HL holds? Momentum is to the downside so likely this swing low will give way. Waiting on it.