Hi traders,

After XAUUSD did not respect the Daily FVG, it changed the orderflow to bullish.
So like I've said in my outlook you could have traded longs after a small correction down on a lower timeframe.

Now the correction up is very impulsive so we have to see what price does. If it wants to drop again we could see a rejection at the open next week for a correction down and another impulsive leg up or the last impulsive leg down of the bigger (orange) A-B-C correction (main idea).

Let's see what price does and react.

Trade idea: Wait for a change 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

Elliott WaveTrend Analysis

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