After yesterday's dip on XAUUSD, the Price took out the 4H low, giving us a new outlook on price action. A pullback is expected before the dip continues.
I will sit out on trading today till we have a better market condition. Like a Change of Character on the 1H giving us the opportunity to trade the pullback back to 60% to 70% of the 4H range.
There is also the possibility of price pushing further down to 50% of the Marked 4H DZ before it gives the needed CHoCH on the 1H TF for us to trade the pullback.
I will sit out on trading today till we have a better market condition. Like a Change of Character on the 1H giving us the opportunity to trade the pullback back to 60% to 70% of the 4H range.
There is also the possibility of price pushing further down to 50% of the Marked 4H DZ before it gives the needed CHoCH on the 1H TF for us to trade the pullback.