Gold gapped down and opened low, bottomed out and rebounded without breaking the 3245 line. Today's trend is biased towards decline and adjustment. Intraday trading can be kept high and low! The upper 3245 suppression retracement is expected to gamble the small double top suppression deep retracement, and the lower support is first maintained near the morning retracement low point 3210. This first determines the strength of the European session. Only after breaking can we continue to chase the short position. If gold rebounds to 3240-43 during the day, we can short it. Today, we will focus on the previous high-altitude suppression. Pay attention to whether it can effectively stabilize at 3200-3190 below. If it stabilizes, we will continue to look at the integer 3300 mark. The bulls are still strong overall, but the intraday volatility of gold is large. If the position ratio is not done well, both long and short positions are easily damaged. Therefore, the recent trading is mainly to lock the area and position control ratio, strictly stop loss in the short term during the day, and do not hold positions and carry orders overnight!
On the whole, today's short-term operation of gold suggests that callbacks should be the main focus, and rebound shorts should be supplemented. The top short-term focus is on the first-line resistance of 3240-3245, and the bottom short-term focus is on the first-line support of 3210-3187.
Short position strategy:
Strategy 1: Short 20% of the gold position in batches when it rebounds to around 3240-3243, stop loss 6 points, target around 3210-3200, and look at 3190 if it breaks;
Long position strategy:
Strategy 2: Long 20% of the gold position in batches when it pulls back to around 3187-3190, stop loss 6 points, target around 3215-3235, and look at 3245 if it breaks;
On the whole, today's short-term operation of gold suggests that callbacks should be the main focus, and rebound shorts should be supplemented. The top short-term focus is on the first-line resistance of 3240-3245, and the bottom short-term focus is on the first-line support of 3210-3187.
Short position strategy:
Strategy 1: Short 20% of the gold position in batches when it rebounds to around 3240-3243, stop loss 6 points, target around 3210-3200, and look at 3190 if it breaks;
Long position strategy:
Strategy 2: Long 20% of the gold position in batches when it pulls back to around 3187-3190, stop loss 6 points, target around 3215-3235, and look at 3245 if it breaks;
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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.
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.