Technical analysis of gold: Gold has fallen after rising, and there is a large room for gold to fall, from 3438 to 3360 now, with a fluctuation of nearly 78 US dollars. Under this change, we should pay attention to whether the long and short changes of gold will continue. From the perspective of cyclical performance, there is a high possibility of a wave of adjustment space after three consecutive positive lines on the daily line, and the intensity of this adjustment will not be small. It is possible that the big negative line swallows the positive line and directly falls below 3300. If it comes out like this, then it can be said that it is difficult for gold to rise this week. On Thursday and Friday, it may fluctuate and fall or fluctuate at a high level.
From the perspective of the 4-hour cycle, a big negative line closed, covering the previous positive lines, and breaking the support of the 5- and 10-day moving averages. This wave may continue to fall to the Bollinger middle rail near 3300, but if it is a high-level shock and the Bollinger middle rail is not broken, it may rise again to the high point of 3430. Therefore, gold has experienced large ups and downs in this cycle, and now it is possible to rise or fall. In the short-term cycle, we will first focus on the support effect of 3360-3350 under the weakness of the early trading. If it is not broken, we can continue to be bullish. The upper target is 3400, and if the strength is strong, we will look at 3430. On the whole, the short-term operation strategy for gold today is to mainly short on rebounds and to do more on pullbacks. The short-term focus on the upper side is the 3400-3405 line of resistance, and the short-term focus on the lower side is the 3350-3300 line of support.
Short order strategy:
Strategy 1: When gold rebounds to around 3397-3400, short sell (buy short) in batches, 20% of the position, stop loss 6 points, target around 3360-3330, break the position and look at the 3300 line
Long order strategy:
Strategy 2: When gold falls back to around 3300-3305, buy long positions in batches (buy up) with 20% of the position, stop loss 6 points, target around 3330-3350, break the position and look at 3370
From the perspective of the 4-hour cycle, a big negative line closed, covering the previous positive lines, and breaking the support of the 5- and 10-day moving averages. This wave may continue to fall to the Bollinger middle rail near 3300, but if it is a high-level shock and the Bollinger middle rail is not broken, it may rise again to the high point of 3430. Therefore, gold has experienced large ups and downs in this cycle, and now it is possible to rise or fall. In the short-term cycle, we will first focus on the support effect of 3360-3350 under the weakness of the early trading. If it is not broken, we can continue to be bullish. The upper target is 3400, and if the strength is strong, we will look at 3430. On the whole, the short-term operation strategy for gold today is to mainly short on rebounds and to do more on pullbacks. The short-term focus on the upper side is the 3400-3405 line of resistance, and the short-term focus on the lower side is the 3350-3300 line of support.
Short order strategy:
Strategy 1: When gold rebounds to around 3397-3400, short sell (buy short) in batches, 20% of the position, stop loss 6 points, target around 3360-3330, break the position and look at the 3300 line
Long order strategy:
Strategy 2: When gold falls back to around 3300-3305, buy long positions in batches (buy up) with 20% of the position, stop loss 6 points, target around 3330-3350, break the position and look at 3370
Trade active
Go long when gold falls back to 3355-3365 area, and cover long position when it falls back to 3346-50, stop loss at 3338, target at 3386-3395, click the link to get accurate trading signals
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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.
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.