XAUUSD 4hour Analysis October 23rd, 2022
Gold Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We saw a large bullish surge at the end of last week but we are still overall bearish on higher timeframes.
Going into this week we’re looking for reversals near 1660.00 with clear price action to enter short on. Ultimately look for lower high formations down to 1600.00
Trade scenario 2: If we are to consider gold bullish we really need to see a higher low above 1675.000, until that happens we’re generally bearish on the 4hour timeframe and higher.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We saw a large bullish surge at the end of last week but we are still overall bearish on higher timeframes.
Going into this week we’re looking for reversals near 1660.00 with clear price action to enter short on. Ultimately look for lower high formations down to 1600.00
Trade scenario 2: If we are to consider gold bullish we really need to see a higher low above 1675.000, until that happens we’re generally bearish on the 4hour timeframe and higher.
