XAUUSD SHORT TERM LOOK

19 ago

As i am seeing in the gold right now is a short term bearish for the week going for the C wave of the running flat wave 2 of the larger wave 5 of wave 3. After an Impulsive move up as wave 1 of wave 5, the market printed a sideways move contained in a channel. meaning that the wave 2 going for an impulsive wave 3 is not yet finished. looking at the channel, we are now at the resistance and probably looking to retest the channel support again to finish wave 2. orderblocks are also labeled for the possible areas of support. In the lower timeframes, I am waiting for the reversal divergence on the rsi so i can start looking for trade entries. This is not guaranteed trading advice, as always we only react what the price is telling us. macroeconomic can also affect the price not only the technical side.