Gold Spot / U.S. DollarUpdated 2.6 Gold tests 2850 support and continues to go long at low leve
2.6 Gold tests 2850 support and continues to go long at low levels
Gold has been strong recently, with consecutive positive daily lines and a unilateral upward trend in the 4-hour cycle.
The following is an analysis and operational suggestions for the current market:
1. Trend analysis
Daily level: Gold continues to increase in volume on the daily line, and the continuous positive pattern has not changed, showing a strong bullish trend. Yesterday, it hit a low of 2839 and then quickly rose, eventually reaching 2882, indicating that the market bullish force is still dominant.
4-hour level: In the 4-hour cycle, gold maintains a unilateral upward pattern. Although there is a small retracement, the overall upward rhythm has not changed. The retracement is small, and it can rise quickly after each retracement, showing that the market is strong in buying.
2. Support and resistance
Short-term support: The 2850 line is an important short-term support level. If it falls back to this position, you can consider continuing to go long.
Daily support: If it falls below 2850, 2840 below is the daily support level, and you can also consider going long if you touch this position.
Upper resistance: 2882 is yesterday's high point, and it is expected to continue to see new highs after breaking through. If it breaks through 2882, the upper target can be seen at 2900 or even higher.
3. Operation suggestions
Go long after stepping back: For today's operation, it is recommended to continue to go long after stepping back. If the price steps back to around 2850, you can go long based on this position, stop loss below 2840, target 2882, and continue to hold after breaking through.
Operation after breaking through support: If the price falls below 2850, you can wait for the price to step back to around 2842 before going long, stop loss below 2835, and the target is also 2882 and above.
Operation after breaking through the new high: If the price breaks through 2882, you can continue to chase long, with the target looking at 2900 and above.
4. Risk control
Stop loss setting: Whether it is a pullback to buy or a breakthrough to chase the long position, a reasonable stop loss should be set to prevent the risk of market reversal.
Position management: In a strong unilateral market, although the main position is to buy, you should also pay attention to position control to avoid excessive chasing and causing excessive risks.
Summary:
Gold is currently in a strong unilateral rising market. The operation is mainly to buy after the pullback, focusing on the support levels of 2860 and 2842, and the upper target is 2882 and new highs. You can continue to chase after the breakthrough, but pay attention to risk control and set a reasonable stop loss.
Gold has been strong recently, with consecutive positive daily lines and a unilateral upward trend in the 4-hour cycle.
The following is an analysis and operational suggestions for the current market:
1. Trend analysis
Daily level: Gold continues to increase in volume on the daily line, and the continuous positive pattern has not changed, showing a strong bullish trend. Yesterday, it hit a low of 2839 and then quickly rose, eventually reaching 2882, indicating that the market bullish force is still dominant.
4-hour level: In the 4-hour cycle, gold maintains a unilateral upward pattern. Although there is a small retracement, the overall upward rhythm has not changed. The retracement is small, and it can rise quickly after each retracement, showing that the market is strong in buying.
2. Support and resistance
Short-term support: The 2850 line is an important short-term support level. If it falls back to this position, you can consider continuing to go long.
Daily support: If it falls below 2850, 2840 below is the daily support level, and you can also consider going long if you touch this position.
Upper resistance: 2882 is yesterday's high point, and it is expected to continue to see new highs after breaking through. If it breaks through 2882, the upper target can be seen at 2900 or even higher.
3. Operation suggestions
Go long after stepping back: For today's operation, it is recommended to continue to go long after stepping back. If the price steps back to around 2850, you can go long based on this position, stop loss below 2840, target 2882, and continue to hold after breaking through.
Operation after breaking through support: If the price falls below 2850, you can wait for the price to step back to around 2842 before going long, stop loss below 2835, and the target is also 2882 and above.
Operation after breaking through the new high: If the price breaks through 2882, you can continue to chase long, with the target looking at 2900 and above.
4. Risk control
Stop loss setting: Whether it is a pullback to buy or a breakthrough to chase the long position, a reasonable stop loss should be set to prevent the risk of market reversal.
Position management: In a strong unilateral market, although the main position is to buy, you should also pay attention to position control to avoid excessive chasing and causing excessive risks.
Summary:
Gold is currently in a strong unilateral rising market. The operation is mainly to buy after the pullback, focusing on the support levels of 2860 and 2842, and the upper target is 2882 and new highs. You can continue to chase after the breakthrough, but pay attention to risk control and set a reasonable stop loss.
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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.
🚀FREE CRYPTO signals in Telegram:t.me/+YMfVDdutmcRlNDYx
2: Senior analysts, the best trading team。3: Full trend tracking, real-time verification of market analysis。
2: Senior analysts, the best trading team。3: Full trend tracking, real-time verification of market analysis。
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.