Gold (XAUUSD) Down $8.61 On 4 Hour Chart, Entered Today Down 0.22%; Pin Bar Pattern Appearing on Chart

Gold 4 Hour Price Update

Updated November 20, 2020 01:57 AM GMT (09:57 PM EST)

Gold is down 0.46% ($8.61) since the previous 4 hours, marking the 3rd candle in a row it has gone down. Out of the 5 instruments in the metals asset class, Gold ended up ranking 3rd for the four-hour candle in terms of price change relative to the previous 4 hours.

Gold Daily Price Recap

Gold closed the day prior down 0.22% ($4.04); this denotes the 3rd day in a row a decline has happened. Relative to other instruments in the metals asset class, Gold ranked 4th since the day prior in terms of percentage price change. Let’s take a look at the daily price chart of Gold.

XAUUSD

Gold Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 5 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.