XAUUSD potential Forecast this week | 21st November 2022

Hi there guys,

I mainly use ICT + Smart Money Concepts for my trading.

Here's a trade idea for the 2nd last week of November.

Abbreviations
BSLQ : Buyside Liquidity
SSLQ : Sellside Liquidity
FVG : Fair Value Gap

Analysis
Weekly bias: expansion to the upside
- Daily FVG spotted
- Breaker block spotted
- Equal highs above the daily supply zone

Idea
I am expecting possibly 2 scenarios for gold this coming week.

1.) A possibly retracement to the Daily FVG at 1747.385, before price heads to the upside.

2.) A deeper retracement to the 1725.600 area where there is the 38.2% Fibonacci retracement line and the breaker block, before price pushes back to the upside.

For entries, always use confirmations on the smaller timeframes! Stay safe trading!

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Regards,
Chen Yongjin