XAU/USD Trading Analysis (11/12/2023)

The trend is ascending. The gold is traded in the range between 365 and 135 ЕМА. The downward wave structure is truncated. There is bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.

Trading idea:

Buy when the formation of the ascending wave structure starts, when the wave A breaches the sloping channel of the truncated structure.

Stop-Loss: 1994.10.

Target price levels: 2040.00, 2090.00.
 

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