Gold analysis for this week

Last Friday (NFP day) we saw a very impressive $87 rally, and in my post I said it looked like a stop run by the MM and I would not be surprised if we had a large fall. This prediction came to be, and I took a very good short trade on Wednesday after I had seen a very large 5 min volume bar.  Pity I am a day trader as the fall from where I took the short was $86. So virtually all the price rise was given back.

Anyway, on Friday morning at 03:00 (BST) we had unusual activity for the time of day, with an extremely large volume bar that brought the down move to an end and a $40 rally on Friday.  Due to the time of this large volume bar, I suspect that was the end of the down move for a while and we should see more impulsive up moves over the next week. 

I will be looking for a correction down before taking a longer term long.

I have included the 30 min chart to give the weekly overview.