Yesterday, our strategy was to wait for the pullback support before buying, and the result was very good. Gold fell back to the support range of 2902-2908 as expected, and then continued to rebound. Now the price has reached 2948 
XAUUSD , which is infinitely close to the historical high of 2956.
During this period of time, my view has always been bullish, and I have said many times in previous articles that as long as gold breaks through the resistance of 2920-2930, it will inevitably hit the historical high again. Now it seems that this view has been verified.
From the trend of the 1H chart, the gold price continues to rise after breaking through the resistance range, and there are two actions of stepping back to 2930 on the way.
Once the resistance is broken, it will turn into support, so the action of stepping back to the support of 2930 is to accumulate power for the rise again, which is very easy to understand.
Since 2930 is determined as a support level, we can layout around this point.
First of all, the gold price has now reached 2948, which is very close to the historical high of 2956. If we continue to chase the rise now, I think the risk is very high. If the historical high cannot be broken, then the gold price will inevitably retreat downward again to support and accumulate strength. In addition, the current upward trend is slightly tired. Therefore, it would be a good choice to wait for a pullback to around 2930GOLD before considering entering the market.
In market trading, risk and opportunity go hand in hand. Your ability to seize opportunities depends on your market judgment. If you lack the skills to analyze the market and trade blindly, the risks will far outweigh the rewards.
I invite you to copy my trading signals or join my channel for stable signal support and consistent profits.
XAUUSD , which is infinitely close to the historical high of 2956.During this period of time, my view has always been bullish, and I have said many times in previous articles that as long as gold breaks through the resistance of 2920-2930, it will inevitably hit the historical high again. Now it seems that this view has been verified.
From the trend of the 1H chart, the gold price continues to rise after breaking through the resistance range, and there are two actions of stepping back to 2930 on the way.
Once the resistance is broken, it will turn into support, so the action of stepping back to the support of 2930 is to accumulate power for the rise again, which is very easy to understand.
Since 2930 is determined as a support level, we can layout around this point.
First of all, the gold price has now reached 2948, which is very close to the historical high of 2956. If we continue to chase the rise now, I think the risk is very high. If the historical high cannot be broken, then the gold price will inevitably retreat downward again to support and accumulate strength. In addition, the current upward trend is slightly tired. Therefore, it would be a good choice to wait for a pullback to around 2930
GOLD before considering entering the market.In market trading, risk and opportunity go hand in hand. Your ability to seize opportunities depends on your market judgment. If you lack the skills to analyze the market and trade blindly, the risks will far outweigh the rewards.
I invite you to copy my trading signals or join my channel for stable signal support and consistent profits.
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
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.
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
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.