Analysis of the Day for XAUUSD

20. Nov. 2023

Price is currently in correctional move since the big impulsive moves we see last week. In hindsight, there's an imbalance to be cleared during the impulsive move that I think price might visit before resuming the move upwards. Attached with the chart is the short sell position that might be interesting for you all. Stop loss is placed 10 pips above the last high, might even put 20-30 pips depending on your risk appetite. Final target for clearing the imbalance would be around 1963.5. But then again, you might book profit as price moves. This is not financial advice, and I encourage you to do your own research and analyzing whether this trade will work for your or not. Cheers!