4/3 Gold Trading Strategy:big opportunity
Updated
Under the stimulus of risk aversion, gold rose from 1800 to 2000, and then began to oscillate. From a short-term perspective, it formed a double top pattern, which I shared with you last week. Interested friends can go and take a look.
Now let's talk about the trading strategy in detail based on the 4-hour chart.
As we can see from the chart, when it first reached above 2000 points, the large increase led to a large deviation, resulting in the need for technical pattern correction, coupled with the cooperation of news, the market began to pull back. Eventually, it found support near 1936, and at the same time, risk aversion swept over again, and the price of gold rebounded, once again approaching 2000 points. However, risk aversion will gradually decrease over time (without further stimulation), and the price of gold at 2000 points is also a resistance level. The market will pull back again, this time down to around 1947 to find support, of course, there is also the cooperation of news during this period.
When it rebounded to the resistance level near 1975, it oscillated repeatedly. On Friday, when US February data was announced, despite the small difference, the bulls still took the opportunity to break through 1975 and came to around 1986 (resistance level). Afterwards, the final value of the University of Michigan's 1-year inflation expectation for March was announced, with a published value of 3.6%, lower than the expected 3.8%, and February was 4.1%. It can be seen that the short-term inflation expectations of US consumers have declined significantly. It is also because of this that the price of gold quickly fell back to around 1966, and as of the closing, the market has not returned above 1975.
On the 4-hour chart, the MACD has formed a dead cross, which is a bearish indicator pattern. The resistance level continues to be around 1975. The small-scale support is around 1966-1963, and the 4-hour support is around 1948, which is also the support level during the last pullback. If it falls below, look for around 1920.
The daily MACD is about to form a dead fork. The MA20 is around 1928, and the MA30 and MA60 are around 1897. The MA5 and MA10 have formed a dead cross and are around 1969.
On the 30-minute chart, there is a demand for rebound, and the resistance level is around 1973-1977 (1975). Therefore, during the Asia-Pacific period on Monday, trading can be carried out around this position.
Buy: 1966-1963
TP: 1973-1975 (If it cannot break through around 1969, it needs to be closed in time and short-selling)
Sell: around 1970-1975 (if it cannot break through 1975-1977 in the rebound)
TP: 1966, 1963, 1957
During the European period, pay attention to the support and resistance situation. If the support around 1963-1957 is broken, look for around 1948. If the support is effective, pay attention to whether the rebound can break through the resistance around 1975.
Sell: 1975-1963
TP: 1955-1948
If the market is still oscillating around the 1963-1977 range during the Asian and European markets, pay attention to the breakthrough direction during the US market, and then I will give specific trading strategies based on the market.
Trade active
Tomorrow, I will publish the specific trading strategy in the group. If you need it, please join the group to get itNote
Friends in the channel 1948-1953 gold long order has been completed once TPTrade active
Gold 1963 Second TPNote
1966 all TPTrade active
Strong resistance at 1975, close to this position can be shortedTrade active
I will publish the specific trading strategy in the channel, please join to get
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