ππ» In any instrument, you cannot enter short trade because the price is too high or enter long trade because the price is too low.
ππ» If the price is too high, it means that there is an upside trend and you need to move with the trend or vice versa. You don't need to catch the trend reversal from the beginning to make money! All you need to move with trend. This is why we focus to catch moves at the end of corrective waves.
ππ» #XAUUSD is currently moving in accordance with both the scenarios that I shared here (previous post) and this triangle correction. In both scenarios, the $2876 is the invalidation level for now!
ππ» In other words, as long as #XAUUSD stays above $2876, we can say that the direction is up; if it goes below $2786, it is necessary to re-analyse.
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