Gold is ready to go up

19 hours ago

Hi traders,

Last week XAUUSD did not go lower from the Daily FVG. It only made a correction to the 23.6 fib retracement and it's in a wave 4.
All of this made me adjust the wavecount and the pattern.
I think it made a Triangle (wave 4) which is now finished and price made the next impulsive wave for wave 5.

So if this is correct, then next week we could see a correction down and more upside.

Let's see what price does and react.

Trade idea: Wait for a small correction down, a change in orderflow to bullish on a lower timeframe and trade longs.

If you want to see more from my analysis, please make sure to follow me, give a boost 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