XAUUSD based on chart given on weekly i have seen 5 motive wave up and currently waiting for comfirmation if wave 5 of i was completed or not.. based on chart below we can see the market already travel until fibo 61.8% of wave 1-3.. and i have seen some rejection at that level which is 1703.93.. based on this im assuming that the motive wave was already completed and waiting for drop to make a bigger correction of wave A B and C to complete wave ii..
my personal oppinion look at lower TimeFrame to fine Structure Breakout to short and place STOP LOSS at the last high seen on the chart TQ.