XAUUSD 4hour Analysis October 10th, 2021
Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Look very bearish still on Gold but we need to see this consolidation break. Ideally we get a continuation to the downside with a break of support around 1740.00 and a lower high below.
Look to enter short on strong bearish setups after we see the lower high.
Trade scenario 2: Both scenarios are bearish but it is possible price action will pullback to 1800.00 before continuing lower.
As long as we’re below 1800.00 we will remain bearish on this pair.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Look very bearish still on Gold but we need to see this consolidation break. Ideally we get a continuation to the downside with a break of support around 1740.00 and a lower high below.
Look to enter short on strong bearish setups after we see the lower high.
Trade scenario 2: Both scenarios are bearish but it is possible price action will pullback to 1800.00 before continuing lower.
As long as we’re below 1800.00 we will remain bearish on this pair.