From the perspective of wave structure, at the golden daily level, driven by 5 waves starting from 2537, the current market is on the 5-wave upward trend starting from 2832. The 5 waves can be subdivided into 5 waves, 5 wave 1 is 2832-2929, 5 wave 2 is 2929-2880 , Wave 3 of 5 is 2880-3057. On Thursday, the market broke through 3057 and increased in volume. Wave 4 of 5 was confirmed to be 3057-2999. The current market is in the final stage of 5-5. The 5-5 rising market ends and a large-scale falling wave will begin.
According to the wave law, the length of 5th wave is generally between 1 times and 0.618 of 1st wave, and the amplitude of 5-1 is 97$. If the amplitude of 5-5 is equal, the upper side is around 3097. Judging from the Fibonacci retracement extension line, there are two resistance levels above 3088-3108. Therefore, when the market rises and touches near 3100, you need to be cautious about the bullish trend and pay attention to whether there is a structural retracement near 3100. In the short term, the bullish thinking of low and long prices remains unchanged. When the price touches 3100, we need to pay attention to whether there is a risk of falling back from the high level.
Gold rose in early Asian trading on Friday, but the European trading has not yet broken a new high. The US trading needs to pay attention to the continuity of the rise. In terms of points, the low of 3054 in early Asian trading on Friday is also a watershed. This is definitely not a test. If the market goes down here, it means that the probability of a new high in the short term is not high. The short-term support below is 3065, the low point of the European trading, and the upper side is yesterday's high of 3060. Maintain a strong bullish trend. If it falls below, it will weaken. The upper resistance level is 3085-3100-3108. Consider a high decline after going up. In short, the US trading did not break high on Friday, and it is necessary to be cautious in chasing highs.
Trade active
Gold trading practical experience sharing:The price of gold fluctuates greatly, and investors face investment risks while earning profits. If the price of gold held falls, it may cause investors to lose money. Therefore, in gold investment, it is essential to master some trading methods. The following are several common gold trading methods:
1. Trend judgment method
Trend judgment method is one of the most classic technical analysis methods in the market. It predicts the price trend in the future by analyzing historical data. Investors can use tools such as moving averages and MACD indicators to identify the trend direction and strength of gold prices, and adjust their investment strategies in time according to trend changes. If the price of gold is in a downward trend, investors can choose to sell or reduce their gold positions to avoid further losses; if the price of gold is in an upward trend, they can consider adding positions or holding and waiting for better returns.
2. Stop loss method
The stop loss method is a method of preventing risks by setting a reasonable stop loss point to limit losses. When the price of gold is lower than the set stop loss point, investors will automatically sell to reduce losses. When setting a stop loss point, it is necessary to comprehensively consider factors such as market conditions, personal investment experience and risk tolerance. Generally speaking, the setting of stop loss points should be relatively stable, not too aggressive, nor too conservative, and the loss should be reasonably controlled within a certain range.
3. Amortized cost method
The amortized cost method is a method of reducing costs by buying gold in batches. When the price of gold falls, investors can increase their positions moderately, combining the high gold purchased before with the low gold purchased now, thereby reducing the cost of the entire position and increasing the possibility of profit when exiting. The amortized cost method requires a comprehensive assessment based on many factors such as market trends, own affordability, and expected profitability. Investors need to have enough patience and mentality, and constantly optimize and adjust their operating strategies to achieve sustainable profits.
4. Other methods
In addition to the above three methods, there are many other methods of unwinding, such as counter-trend operation method, arbitrage method, etc. However, these methods require investors to have high market judgment and risk management capabilities, otherwise they may increase investors' losses. Therefore, investors need to choose the appropriate unwinding method according to their actual situation. In short, in gold investment, it is very necessary to understand a variety of unwinding methods, but not all methods are suitable for every investor. Investors need to make comprehensive considerations based on their own circumstances, experience, risk tolerance and other factors to develop a gold investment strategy that suits them. At the same time, you need to always pay attention to market trends and adjust your operating strategies in a timely manner to obtain better investment returns.
Trade closed: target reached
Gold prices hit a record high on Friday as U.S. President Trump's latest tariff policy raised concerns about a global trade war and investors flocked to safe-haven assets. Spot gold climbed 0.9% to its 18th record high this year at $3,086.66. It rose 2.02% this week, the fourth consecutive week of gains.The market is currently preparing for Trump's plan for reciprocal tariffs on April 2. U.S. President Trump plans to announce new tariffs in the coming days. He said he is somewhat open to reaching tariff agreements with other countries, but he hinted that any agreement will be reached after the tariff measures take effect on April 2. When asked if this would happen before the April 2 tariff announcement, he said: "No. Most likely later." Trump also reiterated plans to announce tariffs on medicines, but he declined to disclose the specific rates of those tariffs.
In addition, the rise in gold prices this week was also supported by tensions in the Middle East and the optimistic impact of the less-than-expected negotiations on the Ukraine issue. Ukrainian President Zelensky said that Ukraine would not accept any mineral rights agreement that threatened its integration with the European Union, but he said it was too early to judge the greatly expanded mineral agreement proposed by Washington. According to Refinitiv, the latest agreement will be announced next week, which may increase the volatility of gold prices next week.
Next week will usher in Trump's tariff week, and countries are currently relatively tough. Mexican President Sheinbaum said on March 28 local time that he opposed the United States' unilateral imposition of a 25% automobile tariff. Mexico will wait for Trump to announce new tariff measures on April 2 to make a "comprehensive response." Mexico is formulating comprehensive response measures to strengthen the national economy and respond to unilateral behavior. At the same time, the negotiation process with the United States is still continuing, striving to ensure stable employment, maintain investment, and avoid damaging the interests of the United States and Canada.
Gold prices are currently bullish. Although some traders have taken profits, gold prices may fluctuate more next week under the intensification of tariffs and geopolitical tensions, and are expected to refresh the historical high to around 3130 again.
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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.