Correction up and another drop for gold

27 Jul 2024

Hi traders,

Last week XAUUSD made another corrective move up just like I've said in my outlook. After that we saw a strong rejection and another downmove.

For next week we could see some (corrective) upside and another downmove again.

Let's see what price does and react.

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

I'm on holiday the next two weeks so no outlooks. I will be back after two weeks.

If you want to learn more about trading with ICT/ SMC concepts and wave 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 signals.

Don't be emotional, just trade!

Eduwave

27 Jul 2024

Nota

I'm on holiday the next two weeks so no outlooks. I will be back after two weeks.