UPDATE ON XAU/USD AnalysisGoldOANDA:XAUUSDLukegforexXAU/USD 4H - As you can see price is approaching the area of Supply we have marked out on the charts nicely. I want to see price trade up and into this before we can make any decisions on whether or not we get involved. Once price trades up and into this area of interest, its then a case of waiting for price to then break the last protected low within this corrective wave and once it does that we can then begin looking for shorts. This is because a break in the last protected low will confirm to us that the correction has now finished and the impulse trading lower is ready to be printed. When we get this confirmation we then prepare to short. We will have to look for another area of interest this time on the smaller timeframes and from the impulse that caused price to change character. This will act as our entry point, we wait for rice to trade in and break lower before entering.