Gold started to fall after hitting 3500. The current low point is temporarily at 3260. The daily cycle has failed to break down after three trading days of testing. The pattern is very obvious. The trend has no continuity, that is, it runs back and forth.
The gold daily line has maintained a wide range of fluctuations for 5 consecutive trading days. The short-term four-hour chart and hourly chart moving averages are glued together, the RSI stops and maintains the middle axis, and the Bollinger Bands gradually close, forming a box range of 3265/3385. The trading idea is to participate in the high-altitude, low-long and short-term trading.
Gold continues to fluctuate. The data in the second half of the week is dense. Gold is likely to wait for data to break the current situation. It maintains a fluctuating trend before the data. Gold continues to rise in the Asian session and is blocked. The rebound is still under pressure. Today's ADP data is also a key node for gold longs and shorts. If gold chooses a direction, it must follow.
Gold continues to fluctuate in the 1-hour period, and the fluctuation range begins to narrow, which indicates that it is getting closer to a change. Gold now seems to be fluctuating downward. Gold hit a high of 3328 again in the Asian session and fell under pressure. According to the ADP data tonight, if gold breaks through the fluctuation range today, then follow the trend at that time.
Key points:
First support: 3300, second support: 3275, third support: 3260
First resistance: 3340, second resistance: 3355, third resistance: 3373
Operation ideas:
Buy: 3298-3305, SL: 3290, TP: 3325-3335;
Sell: 3350-3355, SL: 3364, TP: 3330-3320;
The gold daily line has maintained a wide range of fluctuations for 5 consecutive trading days. The short-term four-hour chart and hourly chart moving averages are glued together, the RSI stops and maintains the middle axis, and the Bollinger Bands gradually close, forming a box range of 3265/3385. The trading idea is to participate in the high-altitude, low-long and short-term trading.
Gold continues to fluctuate. The data in the second half of the week is dense. Gold is likely to wait for data to break the current situation. It maintains a fluctuating trend before the data. Gold continues to rise in the Asian session and is blocked. The rebound is still under pressure. Today's ADP data is also a key node for gold longs and shorts. If gold chooses a direction, it must follow.
Gold continues to fluctuate in the 1-hour period, and the fluctuation range begins to narrow, which indicates that it is getting closer to a change. Gold now seems to be fluctuating downward. Gold hit a high of 3328 again in the Asian session and fell under pressure. According to the ADP data tonight, if gold breaks through the fluctuation range today, then follow the trend at that time.
Key points:
First support: 3300, second support: 3275, third support: 3260
First resistance: 3340, second resistance: 3355, third resistance: 3373
Operation ideas:
Buy: 3298-3305, SL: 3290, TP: 3325-3335;
Sell: 3350-3355, SL: 3364, TP: 3330-3320;
Trade active
If you followed my strategy today, the lowest reached 3301. Now it is 3312. You can close and protect your profits! Trade closed: target reached
Because after the release of multiple economic data during the US trading session, the Fed's interest rate cut is expected to decline. This is the biggest negative for gold. It will suppress the rise of gold.3300 is the 0.618 position of decline. 3310 is the 0.5 position.
3020 is the 0.382 position. These three positions are selling positions
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🥇My free Telegram group(Updated daily):
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.