Gold price target on Wednesday is 3050
Gold price target on Wednesday is 3050
1. Market analysis
Bull force: Gold price continues to hit new highs in the short term, showing bull force.
The 1-hour chart shows that the price is still in an upward channel and may continue to rise in the short term.
Overbought risk: The daily and weekly lines are overbought and divergent, and the price deviates far from the short-term moving average, which poses a risk of correction. Therefore, although the trend is optimistic, it is not advisable to blindly chase high prices.
Federal Reserve news: The Federal Reserve news on Thursday may have a greater impact on the market. It is recommended to remain cautious before the news is announced and avoid excessive positions.
2. Operation strategy
Long order strategy: Go long when the price falls back to the support level, which is a relatively stable strategy.
(1): Conservative waiting: Go long near 3000-3002, with a target of 3020-3035. Breaking through 3050 is a reasonable strategy.
(2): When the price falls back to around 3020-3030, you can also consider entering the market in batches, with a stop loss set below 3015.
Short order strategy: When the price rebounds to around 3050-3055, you can consider shorting with a light position, with the target at 3030-3015 and the stop loss set above 3060.
As the overall market is bullish, short orders should be operated with caution and the position should not be too large.
1. Market analysis
Bull force: Gold price continues to hit new highs in the short term, showing bull force.
The 1-hour chart shows that the price is still in an upward channel and may continue to rise in the short term.
Overbought risk: The daily and weekly lines are overbought and divergent, and the price deviates far from the short-term moving average, which poses a risk of correction. Therefore, although the trend is optimistic, it is not advisable to blindly chase high prices.
Federal Reserve news: The Federal Reserve news on Thursday may have a greater impact on the market. It is recommended to remain cautious before the news is announced and avoid excessive positions.
2. Operation strategy
Long order strategy: Go long when the price falls back to the support level, which is a relatively stable strategy.
(1): Conservative waiting: Go long near 3000-3002, with a target of 3020-3035. Breaking through 3050 is a reasonable strategy.
(2): When the price falls back to around 3020-3030, you can also consider entering the market in batches, with a stop loss set below 3015.
Short order strategy: When the price rebounds to around 3050-3055, you can consider shorting with a light position, with the target at 3030-3015 and the stop loss set above 3060.
As the overall market is bullish, short orders should be operated with caution and the position should not be too large.
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t.me/+IVt6eHrHm84wYWE5
Enjoy life, enjoy trading
Enjoy life, enjoy trading
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.