Gold approaches historical highs, U.S. economic data becomes key
The previous entity of the 4-hour cycle has been broken, and the gold price has been rising step by step, with new highs constantly, and it is necessary to take the previous high point in one round. The 4-hour operation is maintained above the moving average, and the trend is very healthy. In addition, from a structural point of view, the gold price first fell to the 2610 line, so the later stage is to break through the previous high, which is structurally a case of breaking without building.
The daily line is still under double top suppression. If it falls under pressure, the double top pattern will gradually show its power, and gold will slowly weaken. Of course, there are data today. If gold directly breaks through the historical high, then gold will continue to rise. If it breaks through the historical high, then the decline will follow the trend and go long. If it does not break the historical high, then gold will continue to be short at highs below 2685 in the short term
1. The morning rise continues to test the 2685 high point without breaking, forming a morning force.
2. The current retracement, the watershed yesterday morning low of 2667, is also the stop loss position for long orders
3. The trend of the morning power is very important in the European session. It has been emphasized before that the earlier the European session breaks through, the greater the upward momentum. In addition, the more times the top is tested, the greater the probability of breaking, so if it goes up, it will break the high.
At the same time, if this pattern continues to be long, we must pay attention to the European session. The price cannot go down the watershed. If it breaks, it will be volatile.
Therefore, with the help of retracement, continue to be long, break the watershed loss, the upper target is 2688-90, break the European session, and the US session will look at the 2700 mark
The daily line is still under double top suppression. If it falls under pressure, the double top pattern will gradually show its power, and gold will slowly weaken. Of course, there are data today. If gold directly breaks through the historical high, then gold will continue to rise. If it breaks through the historical high, then the decline will follow the trend and go long. If it does not break the historical high, then gold will continue to be short at highs below 2685 in the short term
1. The morning rise continues to test the 2685 high point without breaking, forming a morning force.
2. The current retracement, the watershed yesterday morning low of 2667, is also the stop loss position for long orders
3. The trend of the morning power is very important in the European session. It has been emphasized before that the earlier the European session breaks through, the greater the upward momentum. In addition, the more times the top is tested, the greater the probability of breaking, so if it goes up, it will break the high.
At the same time, if this pattern continues to be long, we must pay attention to the European session. The price cannot go down the watershed. If it breaks, it will be volatile.
Therefore, with the help of retracement, continue to be long, break the watershed loss, the upper target is 2688-90, break the European session, and the US session will look at the 2700 mark
Note
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It fell as expected and the ac
count’s current profit is 10K
Note
The leader of Hamas has been killed, which may push gold prices to another new peakNote
The trend is as I expected. He must stand above 2700
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