XAUUSD
Affected by the holiday in the USA, the gold price fluctuated in a narrow range yesterday, with a slight increase on the daily line. The overall trend is in line with our expectations. The price failed to form an effective continuation after the decline. After rising to 2940 last week, it encountered secondary suppression and then fell sharply. This week, the price did not break the previous low, continuing the pattern of nearly a year. The price briefly stabbed the support and then quickly repaired the decline. The main chart currently shows a weak short signal, but further confirmation is needed. The sub-chart MACD indicator is glued at a high level, with signs of forming a dead cross, suggesting a risk of decline.
If the 4-hour candle falls below the support, it will rise sharply, and the price will temporarily recover some of the lost ground, but the rebound strength is weak. Focus on the recovery of the 26-day moving average. If the price re-stands on the moving average, it is expected to start a wide range of oscillations.
In the medium and long term, the gold price is still in an upward trend, and a decline of tens of dollars in the short term is unlikely to change the trend direction. Regardless of whether 2942 is a stage top, the construction and confirmation of the head pattern requires a repeated process.
From the daily chart, gold is still in an upward trend, and the trend has not changed, but the current momentum is gradually weakening, and the upper 2942 is also the previous high position, which is of reference significance from a technical perspective. The market may form a wide range of fluctuations at a high level.
From the 4-hour chart, the gold bullish arrangement is still intact, and it can rebound effectively when it touches the middle track of the Bollinger Bands. At present, it encounters resistance at 2942 near the previous high, and there is a potential double top to be played. And due to the excessive stretching of the previous bulls, it often takes a period of adjustment. Therefore, without further news stimulation, it is unlikely that gold will rise fiercely, and you can capture the callback market.
This week, pay attention to the competition between the high point 2942 and the neckline 2865. After the second high and then falling back, the 4-hour chart has the possibility of constructing a double top callback. This week, focus on the neckline 2865. The loss of this position will further deepen the adjustment space. Intraday trading is mainly based on callback buying, supplemented by rebound selling!
Key points:
First support: 2888, second support: 2880, third support: 2873
First resistance: 2910, second resistance: 2918, third resistance: 2924
Operation ideas:
BUY: 2883-2885, SL: 2874, TP: 2910-2920;
SELL: 2910-2913, SL: 2922, TP: 2890-2880;
If the 4-hour candle falls below the support, it will rise sharply, and the price will temporarily recover some of the lost ground, but the rebound strength is weak. Focus on the recovery of the 26-day moving average. If the price re-stands on the moving average, it is expected to start a wide range of oscillations.
In the medium and long term, the gold price is still in an upward trend, and a decline of tens of dollars in the short term is unlikely to change the trend direction. Regardless of whether 2942 is a stage top, the construction and confirmation of the head pattern requires a repeated process.
From the daily chart, gold is still in an upward trend, and the trend has not changed, but the current momentum is gradually weakening, and the upper 2942 is also the previous high position, which is of reference significance from a technical perspective. The market may form a wide range of fluctuations at a high level.
From the 4-hour chart, the gold bullish arrangement is still intact, and it can rebound effectively when it touches the middle track of the Bollinger Bands. At present, it encounters resistance at 2942 near the previous high, and there is a potential double top to be played. And due to the excessive stretching of the previous bulls, it often takes a period of adjustment. Therefore, without further news stimulation, it is unlikely that gold will rise fiercely, and you can capture the callback market.
This week, pay attention to the competition between the high point 2942 and the neckline 2865. After the second high and then falling back, the 4-hour chart has the possibility of constructing a double top callback. This week, focus on the neckline 2865. The loss of this position will further deepen the adjustment space. Intraday trading is mainly based on callback buying, supplemented by rebound selling!
Key points:
First support: 2888, second support: 2880, third support: 2873
First resistance: 2910, second resistance: 2918, third resistance: 2924
Operation ideas:
BUY: 2883-2885, SL: 2874, TP: 2910-2920;
SELL: 2910-2913, SL: 2922, TP: 2890-2880;
Note
Gold rises quickly and reaches parallel resistance. We can try to sell
XAUUSD
SELL: 2905near
SL:2913
tp:2895~2890
Note
For more signals and analysis, please check my profileNote
Today's strategy SELL2910~2913 has enteredTrade active
Gold rebound means shorting. Gold seems to have a strong rebound in the Asian session, but gold is still under pressure at high levels. Gold is just a rebound, and gold bulls are only short-lived.
Gold rebounds near 2920 and goes short directly.
Gold is still under pressure from the double top structure at high levels. Gold rebounds to continue to give short opportunities. Gold 2920 is still a key position for longs and shorts. If gold fails to stand firm at 2920, then gold shorts still have a chance.
Gold rebound is not a restart of longs, but an opportunity for shorts.
SELL: 2918-2920, SL: 2928, TP: 2900-2890;
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🥇My free Telegram group(Updated daily):
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
t.me/JungoldAnalyst
✅Contact me
t.me/JunCopytrader
Related publications
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.