XAUUSD SHORT - Patiently and Carefully Look for Entry

After completing an impulse and correction on the daily chart, I expect this pair to make another impulse and create a lower low. Considering that the pair is currently inside a resistance area with strong market structure and Fibonacci confluence, it is a good time to monitor price action development on lower time frames to find a good entry. A good swing target would be the 127.2% fib extension of the daily retracement.

It is very important to be patient and careful with gold, it can be mercilessly manipulated.