XAUUSD:A unilateral downward trend may begin
Updated
https://www.tradingview.com/x/HgwLxEAG/
This is the 4h chart of gold. A simple analysis using the MACD indicator shows that it is currently close to a dead cross. At the same time, there has been a serious top divergence, and other indicators are also showing obvious weakness.
In short, gold bulls are now in a situation where they are unable to continue.
There are only two ways to accumulate power, one is to shock and digest, to repair the indicators.
Another option is to break multiple supports, lure short sellers into the market, and make quick repairs. If there is news cooperation in the later period, bulls will still have the opportunity to try 2380-2400.
Otherwise, this unilateral rise will basically be over. The short sellers will lead the market to 2280-2252-2212, starting a unilateral downward trend, eventually falling below 2200 and returning to the platform support near 2180.
The above are my trading ideas, I hope it can be helpful to everyone's trading.
This is the 4h chart of gold. A simple analysis using the MACD indicator shows that it is currently close to a dead cross. At the same time, there has been a serious top divergence, and other indicators are also showing obvious weakness.
In short, gold bulls are now in a situation where they are unable to continue.
There are only two ways to accumulate power, one is to shock and digest, to repair the indicators.
Another option is to break multiple supports, lure short sellers into the market, and make quick repairs. If there is news cooperation in the later period, bulls will still have the opportunity to try 2380-2400.
Otherwise, this unilateral rise will basically be over. The short sellers will lead the market to 2280-2252-2212, starting a unilateral downward trend, eventually falling below 2200 and returning to the platform support near 2180.
The above are my trading ideas, I hope it can be helpful to everyone's trading.
Trade active
There are signs of rebound on the 30m minute level chart. You can go long in the Asian market tomorrow and observe the resistance near 2360. If there is no breakthrough, close it and switch to short.Trade active
good dayTrade active
It is approaching 2361, pay attention to the resistanceTrade active
It has not been able to break through the resistance of 2361 for the time being. If it cannot stabilize above 2358 in the next half hour, the trend will turn to short, and the price near 2332 will be considered below.Trade active
Rebound resistance 2336-2344, continue to short, target 2305-2291Trade active
The market fluctuates violently and reaches around 2350 again. There is resistance here, but the indicators are temporarily favorable to the bulls. If your account is relatively small and there is a risk of being blown out if it goes up again, you can choose to close the order first.Trade active
When it retests support and rebounds again, let us wait and see whether it can hit a new high.Trade active
It is already close to 2400. The current view is to go short on rallies.Trade active
Short again after reboundTrade active
crazy gold
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