XAUUSD Wave Analysis
- Market is currently in corrective mode after big upside move
- We are slowly grinding towards support with weekly stochastic getting oversold
- Price still needs to go down a bit further before next buy position is possible
- We are waiting for significant price action and lower timeframe trend change
- Important news are coming which often act as a good catalyst.
- But news just lead to volatility, the direction is already given by the overall structure.
- Be patient and stick to your trading plan.
This for educational purpose only. No Investment advice. Trade with demo account before risking your own money.
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