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XAUUSD - 1:5 RR | 06.08.2022

XAUUSD
1H/ M30/ M15
Long
User:
Jens

We can clearly see that price is bullish on the H1 timeframe. Price tapped in on the QML and made his way to the upside. The funny thing is that the market makes us think that we are going bearish, since price reacted of a supply area, made his confirmation and came up. So the first logic partial would of course be in the supply area, price left.

Since price reacted from our QML and came up we can expect price to deliver higher prices. On the M15, we can clearly see price creating TLL before our POI. Another confluence that we can take is the Asian low before our POI. These are a lot of times used to get liquidated in sessions like: London and New York. This gave me enough confirmation to put a limit on the OB printed by the SMC Indicator.

Checklist:

  • Trend Line Liquidity
  • Asian Low Liquidation
  • Pro trend (aligned with HTF Bias)
  • Demand zone printed by SMC Indicator

Timeframes used:

H1: Bias

M30/ M15: Confirmation and POI


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