XAUUSD Wave Analysis

• Market is currently in corrective mode after big upside move
  
• We are slowly grinding towards support with weekly stochastic getting oversold
  
  
• Price still needs to go down a bit further before next buy position is possible
  
• We are waiting for significant price action and lower timeframe trend change
  
  
• Important news are coming which often act as a good catalyst.
  
• But news just lead to volatility, the direction is already given by the overall structure.
  
  
  
• Be patient and stick to your trading plan.
  

This for educational purpose only. No Investment advice. Trade with demo account before risking your own money.