Short XAU/USD Gold @ 1820

May 17, 2022

A strong bearish candlestick pattern is setting up on the 4 hour chart. On the 4 hour chart is looks like a Bearish Engulfing pattern. Wait for the 4 hour to close before entering and be sure the close is below the 1820 level. Also make sure the last 4 hour candlestick has very strong selling pressure. We want to see a long red candlestick body with almost no tail and no wicks. This will ensure the sellers are in control. Be patient, that is the key.