Small correction up and a drop for gold

há 14 horas

Hi traders,

Last week XAUUSD tested the higher Daily FVG again and dropped.
This could be the start of the last C-wave (orange).

So next week we could see a small correction up and another drop to finish the (orange) A-B-C ZIgzag correction.

Or it turns out that the whole bigger correction was a Triangle (finishe before blue wave b) and we see the next impulsive wave up from here. Then you could trade longs after a correction down on a lower timeframe.

Let's see what price does and react.

Trade idea: My main idea is the first one.
So I would wait for a correction up and a change in orderflow to bearish to trade shorts.

If you want to see more from my analysis, please make sure to follow me, give a like and respectful comment.

This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide trade signals.

Don't be emotional, just trade!

Eduwave