Gold Market Update & Trading Strategy
Since yesterday’s rebound, gold has been consolidating at higher levels without significant volatility. As I mentioned before, failure to hold above $2920 would lead to a minor pullback before continuing its upward move. This scenario has played out as expected—gold retraced to $2909 before rebounding to $2925
XAUUSD . However, this rebound did not lead to a breakout since the price did not reach a strong support level first, meaning there was no substantial buying momentum. Therefore, my strategy remains unchanged: waiting for a pullback to key support before considering new long positions.
Analyzing the $2880-$2925 rally, Fibonacci retracement levels indicate that 0.618 retracement aligns with $2908, while the 0.5 retracement is at $2902. Compared to yesterday, the support zone has shifted slightly higher, so we should adjust our entry levels accordingly. I believe that waiting for gold to retrace to the $2902-$2908 zone could provide a solid buying opportunity. You can adjust your approach based on your own risk tolerance and trading plan.
In market trading, risk and opportunity go hand in hand. Your ability to seize opportunities depends on your market judgment. If you lack the skills to analyze the market and trade blindly, the risks will far outweigh the rewards.
I invite you to copy my trading signals or join my channel for stable signal support and consistent profits.
Since yesterday’s rebound, gold has been consolidating at higher levels without significant volatility. As I mentioned before, failure to hold above $2920 would lead to a minor pullback before continuing its upward move. This scenario has played out as expected—gold retraced to $2909 before rebounding to $2925
XAUUSD . However, this rebound did not lead to a breakout since the price did not reach a strong support level first, meaning there was no substantial buying momentum. Therefore, my strategy remains unchanged: waiting for a pullback to key support before considering new long positions.Analyzing the $2880-$2925 rally, Fibonacci retracement levels indicate that 0.618 retracement aligns with $2908, while the 0.5 retracement is at $2902. Compared to yesterday, the support zone has shifted slightly higher, so we should adjust our entry levels accordingly. I believe that waiting for gold to retrace to the $2902-$2908 zone could provide a solid buying opportunity. You can adjust your approach based on your own risk tolerance and trading plan.
In market trading, risk and opportunity go hand in hand. Your ability to seize opportunities depends on your market judgment. If you lack the skills to analyze the market and trade blindly, the risks will far outweigh the rewards.
I invite you to copy my trading signals or join my channel for stable signal support and consistent profits.
Trade active
The most important data of this week, CPI, will be released later. Please pay attention to the results of the data release, which will affect the future trend of gold.Note
All CPI data are bullish for goldNote
As I mentioned earlier, without a proper pullback to the support zone, gold's upward momentum remains weak. Despite the bullish CPI data, which fundamentally favors gold, the price surged again but still failed to break through the $2920-$2930 resistance zone. Now, we are seeing another pullback.If gold retraces to our predefined support zone, I believe this would present a strong buying opportunity. Stay patient and wait for the right entry point to maximize the potential upside.
Trade closed: target reached
This trading strategy is still very correct. Our accurate signal was to buy long positions in the 2908 support range and successfully reached the target 2920. So far, we have continued to maintain our continuous profit-making status, with a winning rate of over 90%. I believe that this profit-making status is obvious to all.
If you are still troubled by trading and sad about the loss of your account, you might as well join the channel at the bottom of the article to make trading simpler and make profits more stable.
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
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.
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
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.