Trading Plan for the Day (March 19) | XAU/USD

Market Overview:
Gold (XAU/USD) continues its upward movement. I will wait for the price to break out of the current structure and form a candlestick pattern.

🎯 Key Scenarios:

Breakout Scenario:
A candle must close within the body of the previous candle, confirming the breakout.
After confirmation, I will look for an entry setup on a lower timeframe (e.g., M15 or M5).
Pullback Scenario:
If the breakout does not occur, I will consider long positions during a corrective move toward the OB IDM (Order Block Initial Drive Momentum) zone.
📉 Short Positions:

For short positions, I will consider them only if liquidity builds above PDH (Previous Day High) to break the current structure.
📊 Trading Plan:

Monitor the price action closely:
If no short opportunities arise, I will focus on long positions.
⚠️ Risk Management:

Ensure position size does not exceed 1% of your trading capital to manage risk effectively.
📢 Wishing everyone a profitable trading day!