Gold opened at around 3240 and then rushed to 3252 and then retreated. In the evening, we also gave a short position near the rebound to 3240. After all, there is a lot of pressure from above, and the technical side also needs to repair the strategy, so we gave a short position entry near 3237-38, and the target is 3215. As of the retracement, it reached the lowest point near 3206, which also successfully reached our target position. Today's Asian session high and retreat is completely a technical adjustment. It bottomed out and rebounded yesterday, with an increase of more than one hundred US dollars. The technical bulls are weak and need to pull back. This is why I gave the short position. Be a steady trader.
The gold market showed a V-shaped reversal pattern of bottoming out and rebounding yesterday. The daily line closed with a hammer-shaped positive line with an extremely long lower shadow, indicating that the support below is strong, but the overall high-level oscillation pattern is still maintained. Technical indicators show that short-term correction pressure still exists: the stochastic indicator is blunted at a high level, the MACD double-line dead cross is downward, and the Bollinger band opens downward. The gold price is likely to fluctuate around the middle and lower tracks.
The 4-hour level oscillates to the short side, and the 3200 line becomes the watershed between long and short. If it effectively falls below this level, the shorts will regain the initiative; on the contrary, the longs need to break through the strong resistance area of 3265-3270 to reverse the decline. At the close of the weekly line, the market has a demand for a restorative decline. If it falls below the 3200 integer mark, the target below will look at the 3180-3170 area. Focus on the effectiveness of the 3265-3270 resistance and the strength of the 3200 support, and be alert to the violent fluctuations in the closing market on Friday.
Gold recommendation: Go long when it falls back to around 3215-3205. Target 3230-40-50 first line
The gold market showed a V-shaped reversal pattern of bottoming out and rebounding yesterday. The daily line closed with a hammer-shaped positive line with an extremely long lower shadow, indicating that the support below is strong, but the overall high-level oscillation pattern is still maintained. Technical indicators show that short-term correction pressure still exists: the stochastic indicator is blunted at a high level, the MACD double-line dead cross is downward, and the Bollinger band opens downward. The gold price is likely to fluctuate around the middle and lower tracks.
The 4-hour level oscillates to the short side, and the 3200 line becomes the watershed between long and short. If it effectively falls below this level, the shorts will regain the initiative; on the contrary, the longs need to break through the strong resistance area of 3265-3270 to reverse the decline. At the close of the weekly line, the market has a demand for a restorative decline. If it falls below the 3200 integer mark, the target below will look at the 3180-3170 area. Focus on the effectiveness of the 3265-3270 resistance and the strength of the 3200 support, and be alert to the violent fluctuations in the closing market on Friday.
Gold recommendation: Go long when it falls back to around 3215-3205. Target 3230-40-50 first line
Trade active
Today, there are many people in the market who followed the trend and went long, or even chased the long position, and without exception, they were trapped and wailing. We have repeatedly emphasized that we should treat the market with a sweeping mindset, and different market rhythms should be dealt with in different ways.ou don’t know when to enter the market and want to double your profits? As long as you persist, your weekly profits can reach more than 100-400% without complicated operations.
Trade closed: target reached
I have always been fortunate that I can stick to my original intention, and I can do my best to serve every friend who proposes cooperation, and use my professional strength to help you make a profit, recover your investment, and increase your funds. My reputation depends entirely on the publicity of my clients. My strength has been honed in actual combat. Even if the road ahead is bumpy, as long as you give me trust, we will devote all our guidance to utilize your funds to the maximum effective extent, and let you experience the pleasant profit feeling in the ups and downs of the market!
For every friend who proposes cooperation, I will do my best and use my professional strength to help you make profits. I have helped many members achieve stable profits. Directly click on the free witness telegram group:t.me/TP_Daniel1
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.
For every friend who proposes cooperation, I will do my best and use my professional strength to help you make profits. I have helped many members achieve stable profits. Directly click on the free witness telegram group:t.me/TP_Daniel1
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.