Hi traders,
Last week gold finished the correction after it came into the bearish Daily FVG.
From there it rejected to the downside (still bearish trend).
So next week we could see another move down to finish the (red) ABC-pattern.
If price closes above the bearish Daily FVG, the trend turned to bullish again.
Let’s see what price does and react.
Trade idea: Wait for a change in orderflow to bearish on a lower timeframe to trade (short term) shorts.
This shared post is only my point of view on what could be the next move in this pair based on my technical analysis.
But I react and trade on what I see in the chart, not what I’ve predicted or expect.
Manage your emotions, trade your edge!
Eduwave