Gold, range trading strategy
Updated
Gold daily dip back up to close higher, inertia fell to a record low to 1924.73 a line to start stabilization, the end of the session to quickly recover lost ground. Recovered the hourly chart of the second highest point 1940 reversal turned up, and return to the range oscillation, while the impact on the upper rail, with the weakening of the dollar, boosting gold prices to recover lost ground, today's opening in the neutral value of 1960 here. From the upper rail 1970 and 1984 there is still a certain distance, combined with the daily and weekly gold needles bottoming out, today's short term will first rebound to the upper rail, as to whether it can break, have to be combined with the strength of the European and American disc, is the lower probe back up after the momentum break or just return to the range oscillation to be confirmed. Small cycle first look inertia up.
The 4-hour chart chronic negative fall after a large positive pull up, down slowly up fast. Re-stationing the middle rail up rail rebound, and the large positive line closed full, today's opening will be inertia to continue yesterday's rising volume, the first target first look at 1970 a band, followed by 1980-1984 highs at. Combined with the hourly chart to determine the strength, do not rule out touching the upper rail and then under pressure to fall back to continue to pull sawing oscillation. Hourly chart a wave of consecutive positive type to recover the lost ground at the beginning of the week. The decline of three trading days, was recovered by yesterday's one-day rally as much as possible, re-approaching the upper rail.
Gold last night from the opening of the U.S. market has been to ten o'clock opening, the market is also a continuous smash plate four times more than a single, directly gold more pulled back again, the current gold is a continuous breakthrough above a variety of resistance directly to the current 1960 mark near, then the next, gold is afraid to return to the previous 1945-1970 range in the back and forth oscillation repair!
Gold intraday operating strategy advice: above in 1963-1965 nearsell, sl1970 on, tp1953-1950;
Below in the 1950-1952 near BUY, sl1945 under, tp1965-1970;
The 4-hour chart chronic negative fall after a large positive pull up, down slowly up fast. Re-stationing the middle rail up rail rebound, and the large positive line closed full, today's opening will be inertia to continue yesterday's rising volume, the first target first look at 1970 a band, followed by 1980-1984 highs at. Combined with the hourly chart to determine the strength, do not rule out touching the upper rail and then under pressure to fall back to continue to pull sawing oscillation. Hourly chart a wave of consecutive positive type to recover the lost ground at the beginning of the week. The decline of three trading days, was recovered by yesterday's one-day rally as much as possible, re-approaching the upper rail.
Gold last night from the opening of the U.S. market has been to ten o'clock opening, the market is also a continuous smash plate four times more than a single, directly gold more pulled back again, the current gold is a continuous breakthrough above a variety of resistance directly to the current 1960 mark near, then the next, gold is afraid to return to the previous 1945-1970 range in the back and forth oscillation repair!
Gold intraday operating strategy advice: above in 1963-1965 nearsell, sl1970 on, tp1953-1950;
Below in the 1950-1952 near BUY, sl1945 under, tp1965-1970;
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Specifically, the intra-day European plate can refer to 1963 above sell, sl1971, tp follow up 1645-50. give to the position below near 1945-50 can consider changing hands BUY.
More suggestions 1940-45 near the intervention, 1940 below the fill BUY orders, defensive limit but 1930 key position, the upper continue to pay attention to the recovery of more, gradient tp1960-65-70, break the level to reduce hold!
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Daily gold prices showed a single bullish candlestick, with hourly prices also displaying consecutive bullish candles. The market broke through the previous resistance level at 1966 in a slow upward movement. If this trend continues today, caution is advised. In the event of a decline in gold prices in the US market, it would be advisable to consider a buy position if the support level at 1958 remains unbroken. For short-term trading, a rebound can be anticipated between the range of 1958-1954, with a preference for entering at lower price levels. Resistance levels to monitor on the upside are at 1974-1980. However, if gold prices in the US market break below the support level at 1954, further downside movement should be expected, with focus shifting to the next support level at 1945.
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