XAU/USD Short Term Long - 15m - Pre NY Open - Nov 8 2022
Using longer term PF, we see price has respected a major ceiling and used a parallel a higher floor. Waited for price to react as expected once we reached the floor again and entered after price beat the previous high and created structure.
The short term PF drawn on the 15m timeframe was also used to better time the buy. We see price breaking the major ceiling and retest with confirmation giving us confidence that we could be breaking out soon. Impulse buys executed once it was obvious that price is likely to break the ceiling after testing a floor on the purple PF.
The short term PF drawn on the 15m timeframe was also used to better time the buy. We see price breaking the major ceiling and retest with confirmation giving us confidence that we could be breaking out soon. Impulse buys executed once it was obvious that price is likely to break the ceiling after testing a floor on the purple PF.
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