XAUUSD:Head and shoulders, short
Updated
https://www.tradingview.com/x/A6dUWauj/
At present, the market has reached the resistance level again. From the indicator point of view, there is still room for growth. For the time being, we will observe the 2277-2289 range. The support will first be around 2263, followed by 2256-2252.
If it falls below, consider around 2232. At that time, the pattern may be head and shoulders, which also means a sharp decline. For the rest of the week, the focus will be on Thursday’s NFP data. Once it is beneficial to the short side, it will fall below 2200.
At present, the market has reached the resistance level again. From the indicator point of view, there is still room for growth. For the time being, we will observe the 2277-2289 range. The support will first be around 2263, followed by 2256-2252.
If it falls below, consider around 2232. At that time, the pattern may be head and shoulders, which also means a sharp decline. For the rest of the week, the focus will be on Thursday’s NFP data. Once it is beneficial to the short side, it will fall below 2200.
Trade active
It is rising, pay attention to the resistance near 2289Trade active
It encountered resistance near 2289 and fell back. First look at the support range of 2278-2271. The probability of falling below 2278 is high. Focus on 2271, followed by 2267-2259. If it falls below in sequence, today's low will most likely appear near 2253.good luck!
Trade active
The price fluctuates in the range of 2278-2289, and the indicator begins to weaken. If you can't break through the resistance after trying again, you can start short trading.Trade active
Came to around 2289 again, no breakout, so short trades have startedTrade active
Oscillating within a narrow range, the MACD pattern on the 1h chart shows signs of forming a dead cross. Once formed, there will be a larger decline, so continue to maintain short positions.Trade active
As expected, the 1h chart formed a dead cross pattern and fell below 2278. Next, we focus on observing the vicinity of 2274-2271. The short positions we hold continue to make money.Trade active
The short orders have already made huge profits. Next, observe the support near 2263. If it is effective, you can go long and catch the rebound. The rebound resistance is 2276-2283. If the bear is too strong and falls below the support, you need to consider the 2258-2252 range.Trade active
The first test of resistance near 2276, continue to observe, the strong resistance is near 2283, the large-level chart shape is beneficial to shorts, so continue to maintain the idea of selling at high levels.Trade active
This is a great trading strategy that allowed us to make profits againTrade active
Gold fell sharply, trading continued to be high and short, with resistance near 2291Trade active
The target of 2269 has been completed. It is rebounding after a sharp decline. The resistance is near 2279-2286. The trading is still mainly short.Trade active
At present, gold has rebounded somewhat after experiencing a rapid decline. This is the basic trend of the market. It will always make some repairs after a sharp decline or rise.
Next, focus on the resistance level 2321-2327 and the support level 2305-2296. Before the US market starts, you can trade around this range.
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.