Technical analysis by Finchcliffe about Symbol PAXG: Sell recommendation (10/10/2023)

XAUUSD (Gold): Quick scalp short from here We saw gold gap up which I believe needs to be closed, with a drop down to support around 1834, but may go further. The Israel Palestine conflict caused the buying of gold, however as a non-yield bearing asset it's less attractive than USD, and a strong USD is bad for gold, so I think we may even see a fall back down to the bottom of the channel at 1800. If it wasn't for the conflict then this is where I would expect us to be, so based on this I'm still short and entering.Trade active: 1852Trade closed: stop reached: Should have consider the prospect of the 38% retracement ahead of filling the gap, with the macro fundamentals at play. I'm thinking best avoiding Gold for now.