XAUUSD| Pay close attention to the range breakthrough
✅The gold market experienced a large fluctuation yesterday, especially during the US trading session, affected by Trump's remarks, and the gold price fell by nearly $30. The short orders near 2645 that we arranged in advance successfully captured nearly $20 in profits.
✅From the overall trend, gold has not gone out of the obvious unilateral market, but maintained a wide range of shocks, and the trend is still biased towards the short side. The daily chart shows that gold continues the cross K-line consolidation pattern, and the range is gradually shrinking and consolidating in the short term. At present, the gold price is still in a state of tug-of-war within the range. Although there is a certain space fluctuation, it lacks sustained momentum. The main tone of the recent trend is still repeated shocks. Therefore, in the shock market, it is still recommended to continue to short at highs when it rebounds to a high level.
✅From the analysis of the 4-hour chart, the gold price has entered a contraction range of shocks and consolidation, and the Bollinger Bands are in a contraction state. Yesterday, the gold price fell to the lower track of the Bollinger Bands and was slightly supported. The current low point of the range has moved slightly upward, but the upward sustained momentum is insufficient, and it is still necessary to wait for the range to break through in the short term. As the daily K-line entity shrinks, it shows that the market is in a contraction and consolidation stage. In the short term, pay attention to the direction of the entity K-line breaking through with large volume.
✅In the 1-hour chart, the moving average begins to turn downward. If a dead cross structure is further formed, the downward space of gold may be further opened, thus ushering in a more obvious downward trend. At present, the gold price has failed to break through yesterday's high of 2649, indicating that the short-term trend is still bearish. Therefore, the operation continues to be mainly short-selling on rallies, and the target below is around yesterday's low of 2615.
🔴Upper resistance: 2648-2650
🟢Lower support: 2610-2615
✅Intraday Trading strategy:
🔶GOLD SELL: 2645-2648
🔰TP1: 2635
🔰TP2: 2625
🔰TP3: 2615 OPEN~
🔶GOLD BUY: 2612-2615
🔰TP1: 2625
🔰TP2: 2635
🔰TP3: 2645 OPEN~
✅Pay close attention to the range breakthrough. If the real K-line breaks through the range with large volume, adjust the trading ideas and follow the trend
✅From the overall trend, gold has not gone out of the obvious unilateral market, but maintained a wide range of shocks, and the trend is still biased towards the short side. The daily chart shows that gold continues the cross K-line consolidation pattern, and the range is gradually shrinking and consolidating in the short term. At present, the gold price is still in a state of tug-of-war within the range. Although there is a certain space fluctuation, it lacks sustained momentum. The main tone of the recent trend is still repeated shocks. Therefore, in the shock market, it is still recommended to continue to short at highs when it rebounds to a high level.
✅From the analysis of the 4-hour chart, the gold price has entered a contraction range of shocks and consolidation, and the Bollinger Bands are in a contraction state. Yesterday, the gold price fell to the lower track of the Bollinger Bands and was slightly supported. The current low point of the range has moved slightly upward, but the upward sustained momentum is insufficient, and it is still necessary to wait for the range to break through in the short term. As the daily K-line entity shrinks, it shows that the market is in a contraction and consolidation stage. In the short term, pay attention to the direction of the entity K-line breaking through with large volume.
✅In the 1-hour chart, the moving average begins to turn downward. If a dead cross structure is further formed, the downward space of gold may be further opened, thus ushering in a more obvious downward trend. At present, the gold price has failed to break through yesterday's high of 2649, indicating that the short-term trend is still bearish. Therefore, the operation continues to be mainly short-selling on rallies, and the target below is around yesterday's low of 2615.
🔴Upper resistance: 2648-2650
🟢Lower support: 2610-2615
✅Intraday Trading strategy:
🔶GOLD SELL: 2645-2648
🔰TP1: 2635
🔰TP2: 2625
🔰TP3: 2615 OPEN~
🔶GOLD BUY: 2612-2615
🔰TP1: 2625
🔰TP2: 2635
🔰TP3: 2645 OPEN~
✅Pay close attention to the range breakthrough. If the real K-line breaks through the range with large volume, adjust the trading ideas and follow the trend
🔴Join the Free Trading Club🔴
🔰t.me/+Ji0SOKHW3U43M2Jl
🔶Accurate trading strategies✅
🔶Real-time trading guidance✅
🔰t.me/+Ji0SOKHW3U43M2Jl
🔶Accurate trading strategies✅
🔶Real-time trading guidance✅
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.