XAUUSD Potential Forecast | 23rd November 2022

Hi everyone, today I will be talking about a possible XAUUSD short trade using Smart Money Concepts.

Trade Idea

1. Price just swept the current lows of GOLD and instantly rejected it
2. Entire bearish leg thus far has been slow and without volume
3. Liquidity has been building at the upside
4. This bearish leg could potentially be a retracement for price to continue bullish on higher timeframe.


I anticipate for price to retrace and continue its bullish momentum up to retest the highs above.


Things to look out for:
- Area of demand below that price can always tap into, do keep that in mind.

Trade safe guys.

Regards,
Chern Yu

Commentaire:

GOLD longs continuation still intact.. price is very bullish on the lower timeframe