XAUUSD 4hour Analysis November 22nd, 2020
Gold Short idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Currently we are seeing price action turn more bearish as it breaks through key support at 1875.00. Now we want to see a confirmed lower high which we can enter short on. Target lower toward our monthly key support at 1825.00
Trade scenario 2: Enter on a higher low confirming price action back into the above range. Ideally we want to see price action push above the 200ema to help identify a true change of trend.
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Currently we are seeing price action turn more bearish as it breaks through key support at 1875.00. Now we want to see a confirmed lower high which we can enter short on. Target lower toward our monthly key support at 1825.00
Trade scenario 2: Enter on a higher low confirming price action back into the above range. Ideally we want to see price action push above the 200ema to help identify a true change of trend.