Analysis of gold trend next week
Updated
Gold fell from 2633 to 2613 at the opening of Asian trading on Friday, and then rebounded, basically fluctuating between 2635 and 2643.
Non-farm data was bearish, and gold also rebounded slightly before falling directly to 2626. For non-farm data, the decline and rise in Asian trading on Friday has consumed the market's momentum, so non-farm data will not fluctuate as much as before. I noticed that many people are bullish on gold in the US market. In fact, I want to say that both the technical side and the negative news of non-farm data are bearish, so why should we be bullish?
There is no reason. At the same time, many people are bearish and expect to break the 2600 mark. From the technical point of view and data, it is difficult to break the 2600 mark without the support of particularly large negative data. We must follow the trend. Although the data and news are bearish, we will not chase the short position. We will mainly short the rebound. Pay more attention to the gold strategy analysis of my tradingview community.
From the 4-hour analysis, we pay attention to the short-term support of 2625 below, and focus on the key support of 2606-12. Pay attention to the suppression of 2648-2656 above. If the rebound is not broken, we will still short, but don’t expect a big drop. The market has digested it in the early Asian session on Friday, so try to wait for a good position before operating, and keep the main tone of following the trend.
Gold operation strategy:
1. Gold 2648-2653 line short, stop loss 2662, target 2625-2630 line, break to see 2606-12 line;
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Gold opened slightly higher in the Asian session and touched the 2648 line, then fell back under pressure again, reaching the lowest level of 2627. My article analysis strategy at the weekend gave a short position at the 2648-53 line on Monday. From the 4-hour line, the 2653 line suppression last week is still effective. In the short term, gold needs to rely on the impact of the situation to surge upward, but the support below is also relatively strong. After falling back to the 2627 line in the morning, it rebounded again and did not continue to fall below the support below, so we are still operating with the trend of rebounding and shorting.
From the 4-hour analysis, today we continue to focus on the 2648-53 line suppression above, and rely on this position to continue to short and follow the trend to fall. Below, we focus on the short-term support of 2625. Before breaking through the 2660 mark in the short term, any pullback is a short-selling opportunity, and we maintain the main tone of participating in the trend.
Gold operation strategy:
1. Short gold at 2650-2653, stop loss at 2662, target at 2625-2630, break to target 2606-12;
Trade closed: target reached
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.
Disclaimer
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