Today's gold trend analysis strategy
Updated
From the 4-hour analysis, the market trend shows obvious range suppression and support.
Market analysis
Suppression position: 2650-2653
The current price is under pressure in the 2650-2653 area. Before breaking through the 2660 mark, the overall trend is still bearish. After the pullback to the suppression position, there is a high probability of continuing to decline.
Support position: 2625
The short-term support is around 2625, where a short-term rebound may form, but before there is a strong signal, the downward trend is dominant. If it falls below 2625, it will further look to 2612.
Operation strategy
Short order layout
Entry point: Short in the 2653-2656 area, short in line with the main trend.
Stop loss position: Set at 2662 to avoid risks.
Target position: The first target is 2625-2630. If it breaks, look at the lower point of 2612.
Risk control suggestion
Strict stop loss: Stop loss at 2662 to prevent unexpected rebounds in the market.
Gradually stop profit: When approaching the target area, you can gradually close the position according to the K-line pattern to lock in profits.
In the current market structure of range oscillation and downward trend, we should mainly trade with the trend, and focus on observing the breakthrough of pressure and support areas.
Trade active
Gold fluctuated upward in the US market, breaking through the suppression of 2660 last week, and is currently fluctuating around 2670. Has gold changed its trend?
This is the question of many friends. When breaking through the 2660 line, the bulls become more and more obvious, but we should not chase the high position. After all, the suppression above still exists. Pay attention to the suppression of 2680-82 above, but the possibility of breaking through this position is not great. Judging from the 4-hour analysis, the bulls have not disappeared in the short term, and we should not rush to chase the longs. The risk of chasing the longs is greater than the current short position near 2675. At the top, we are now focusing on the 2680-2682 first-line suppression, and at the bottom, we focus on the 2748-2653 first-line short-term Support, if the rebound does not break, you can go short. Never chase the long position at a high level.
Gold operation strategy:
1. Gold is short at 2680-2683, stop loss at 2692, target at 2645-2653, look at 2626-2632 for a break;
Trade closed: target reached
Spot gold is trading sideways at a high level, currently quoted at $2,671/ounce, with support and pressure levels of high shorts and low longs, pressure level of 2,690, and support level of 2,645.
Gold rose slightly in early trading in Asia. The top is under pressure at the previous high of 2676. It is better to take a short look first and see how the short forces are doing. Focus on the 2660 position below. This point is also the previous consolidation point. If shorts want to occupy it during the day Excellent, it is necessary to break 2660. If it does not break, there will be a wave of upward pull for the bulls!
There are two situations today. The first situation: look at a short wave first to see if it can break below 2,660 for the second time. If it breaks down strongly, the bottom will be pulled to 2,645 during the day. The European session will see a rebound around the 2,645 area, and the US session will choose an opportunity to short at a high level!
The second situation: still bearish, retrace the consolidation near 2660 area without breaking, the longer it stays sideways, the stronger the support below will be. In this case, it still hasn't broken below this area in the European session, so the European session will be bullish around 2660 area to see if it can break the previous high of 2676. If it breaks, the US session will continue to be bullish near 2670-75 area, and there will be a second push, and the 2690 area can be seen above!
The current trading strategy is to go short first, focusing on the support of the 2660 area below. This position is the consolidation point before the Asian morning session. If it breaks below this position, there will be an accelerated downward trend!
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