Gold Trend Analysis and Strategies
From the daily chart, gold prices regained their upward trend after struggling to stand firm at $2,800. Any pullback at the beginning of the week is seen as an opportunity to buy on dips. It has killed shorts all the way up. Combined with fundamental news, it continues to refresh the historical high to around 2,880, further extending the space, but there is a sell-off above 2,880. Combined with the overbought divergence of bulls, it continues to fall. After breaking the 4-hour cycle middle track of 2,845, the gold rising pattern has initially changed!
At present, it is necessary to test the pressure conversion support of the previous high point near 2,830. Before breaking, the gold bull sentiment always occupies the market. At present, gold has not yet reached the bottom of the retracement. The 5-day moving average of 2830 cannot hold up. There will be another retracement next week. The closing line is above 2850, so it depends on the impact after the release of non-agricultural data.
After the risk aversion of gold eased yesterday, gold bottomed out, but the risk aversion sentiment was not fully released. Gold bottomed out and rebounded to stabilize again. The gold shorts made a false move, and the gold shorts did not continue. The gold longs reversed in a deep V, and the gold deep V basically had no major correction, which means that the gold longs are relatively strong and are likely to accelerate the rise.
Although gold fluctuated downward last night, it has now begun to bottom out and rebound. The gold longs reversed in a deep V. Gold fell back or continued to go long. After gold bottomed out, it began to maintain around 2850, and then continued to rise after a rest. So gold continued to go long after stepping back to 2850 in the Asian session.
Key points:
First support: 2850, second support: 2842, third support: 2831
First resistance: 2873, second resistance: 2882, third resistance: 2900
Operation ideas:
BUY: 2847-2850, SL: 2839, TP: 2870-2880;
SELL: 2880-2882, SL: 2891, TP: 2860-2850;
At present, it is necessary to test the pressure conversion support of the previous high point near 2,830. Before breaking, the gold bull sentiment always occupies the market. At present, gold has not yet reached the bottom of the retracement. The 5-day moving average of 2830 cannot hold up. There will be another retracement next week. The closing line is above 2850, so it depends on the impact after the release of non-agricultural data.
After the risk aversion of gold eased yesterday, gold bottomed out, but the risk aversion sentiment was not fully released. Gold bottomed out and rebounded to stabilize again. The gold shorts made a false move, and the gold shorts did not continue. The gold longs reversed in a deep V, and the gold deep V basically had no major correction, which means that the gold longs are relatively strong and are likely to accelerate the rise.
Although gold fluctuated downward last night, it has now begun to bottom out and rebound. The gold longs reversed in a deep V. Gold fell back or continued to go long. After gold bottomed out, it began to maintain around 2850, and then continued to rise after a rest. So gold continued to go long after stepping back to 2850 in the Asian session.
Key points:
First support: 2850, second support: 2842, third support: 2831
First resistance: 2873, second resistance: 2882, third resistance: 2900
Operation ideas:
BUY: 2847-2850, SL: 2839, TP: 2870-2880;
SELL: 2880-2882, SL: 2891, TP: 2860-2850;
Note
xauusd
SELL: 2863~2866
SL:2873
tp1:2855
tp2:2850
Trade closed manually
Close SELL2863~2866 at 2863 now. Waiting for NFP news release
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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.
🥇My free Telegram group(Updated daily):
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
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.