We identified a potential trading opportunity in XAUUSD when the market formed a higher high and higher low on the initial entry. Following this, a substantial correction occurred, and we are currently in the process of retesting the previously established higher low. This presents a second entry point.
To enhance the precision of our entry, it is advisable to exercise patience and wait for a confirmation signal on a lower time frame. Confirmations could include technical indicators aligning with the upward movement or the formation of a bullish candlestick pattern.
Once a confirmation is observed, it signals a favorable condition to initiate a long position. This approach aims to improve the accuracy of our trade entries and increase the probability of a successful trade.
It's essential to remain diligent in monitoring the price action and associated indicators to ensure the confirmation aligns with the overall market trend. This strategy enhances our decision-making process and contributes to a more informed and strategic entry into the long position.
To enhance the precision of our entry, it is advisable to exercise patience and wait for a confirmation signal on a lower time frame. Confirmations could include technical indicators aligning with the upward movement or the formation of a bullish candlestick pattern.
Once a confirmation is observed, it signals a favorable condition to initiate a long position. This approach aims to improve the accuracy of our trade entries and increase the probability of a successful trade.
It's essential to remain diligent in monitoring the price action and associated indicators to ensure the confirmation aligns with the overall market trend. This strategy enhances our decision-making process and contributes to a more informed and strategic entry into the long position.
Order cancelled:
no sing was created in a lower timeframe to enter we broke 4H structure so market undecided