Another drop for gold

Dec 1

Hi traders,

XAUUSD did exactly what I've said in my outlook last week.
It rejected at the open and made an impulsive leg down into the Daily FVG. After that it corrected into the higher FVG.

So next week we could see another impulsive leg down to finish the (orange) A-B-C ZIgzag correction. Or it turns out to be a Triangle.

Let's see what price does and react.

Trade idea: Wait for a change in orderflow to bearish again and trade shorts after a small correction up on a lower timeframe.

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