This week, the gold market showed a high range oscillation pattern. After opening at 3210 on Monday, it quickly rose to the historical high of 3245, but the daily line closed with a negative cross needle, indicating that the long-short game intensified. The gold price fluctuated and fell in the Asian and NY periods. Although the NY period showed a short-term illusion of a high rise, it failed to break through 3227 and plunged to 3193 under pressure. The rebound in the late trading recovered some of the lost ground.
The current price of gold is running in the range of 3245-3193, and it continued to consolidate in a narrow range at 3215 today. It is worth noting that the market generally expects the unilateral 100-point market last week to reappear, but ignores the characteristics of this week's oscillation and energy storage. Blindly chasing ups and downs is easy to fall into passivity. From the technical form, the upper 3237-3245 constitutes a strong resistance zone, and the lower 3193-3188 forms a key support. It is recommended that everyone maintain the thinking of range operation, rely on support and resistance to choose the opportunity to buy low and sell high, and wait patiently for the market to clarify the direction before making trend layout.
Operation strategy 1: It is recommended to go short at rebound 3225-3230, SL: 3237, TP: 3200-3190.
Operation strategy 2: It is recommended to go long at callback 3190-3185, SL: 3177, TP: 3210-3220.
The current price of gold is running in the range of 3245-3193, and it continued to consolidate in a narrow range at 3215 today. It is worth noting that the market generally expects the unilateral 100-point market last week to reappear, but ignores the characteristics of this week's oscillation and energy storage. Blindly chasing ups and downs is easy to fall into passivity. From the technical form, the upper 3237-3245 constitutes a strong resistance zone, and the lower 3193-3188 forms a key support. It is recommended that everyone maintain the thinking of range operation, rely on support and resistance to choose the opportunity to buy low and sell high, and wait patiently for the market to clarify the direction before making trend layout.
Operation strategy 1: It is recommended to go short at rebound 3225-3230, SL: 3237, TP: 3200-3190.
Operation strategy 2: It is recommended to go long at callback 3190-3185, SL: 3177, TP: 3210-3220.
Trade active
The selling strategy has been profitable. I hope you followed my strategy Note
Gold, short-term high-level fluctuationsAfter experiencing a big rise and fall in gold last week, gold has gradually stabilized in the past two days, and the general direction is still bullish
Yesterday, gold fell as expected and adjusted in a cross pattern, which was in line with our expectations. The correction after three consecutive rises has always been a cyclical trend. Gold gradually fluctuated downward from the high point, and the lowest point reached 3195 to be supported. The closing price was not at a low level, and the daily cross fell and closed
We often say that in an upward trend, the appearance of a single negative can only be regarded as a correction, not an end to the bull market. If there is a continuous downward trend, it can indicate that the short-term bull market has ended and entered an adjustment cycle. In other words, today's daily closing is critical. Whether it reaches the top or continues to rise is today!
Today in the Asian session, gold has seen a sharp rise, rising directly from the 3210 line to 3232. Then 3210 becomes the intraday long-short dividing point. Keep bullish above this position. Once the London market falls below this point, it will continue to fall.
Gold has seen some short-term retracement trends. Pay attention to the 3210 to 3232 golden section line retracement to the 0.618 position 3218 line and the 0.5 position 3221 line two support positions to arrange long orders
As the Asian market rises, the London market will continue once, and you can go long on the pullback. If the London market strengthens, the NY market will continue to go long on the retracement
In terms of operation, gold will arrange long orders on the 3218 to 3221 line, stop loss on the 3210 line support, and look for new highs. If it falls below the 3210 line, follow the short position and continue to look at the adjustment trend
Trade closed: target reached
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✅Daily analysis and strategies
✅ Free Signals check out my Telegram group: t.me/GoldenView_analysis
✅ Free Signals check out my Telegram group: t.me/GoldenView_analysis
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.