GOLD 20.10.22 - H1

Thursday, October 20, 2022 12:31 AM

Pric has been bearish on the higher timeframes and we have been waiting for bearish opportunities. We saw price retesting our previous breakout on the weekly timeframe with a successful rejection. Last week's candle was an engilfing candle which pushes this week's price lower. Our daily candle closed as a strong bearish candle which is good confirmation and from here as long as no h4 candle closes above 1636. We should see price push lower. Our first target is 1616. From there if price breaks the low, you can collect as it pushes low. Make no mistake, no buying.