✅The current price of gold is running in a short-term upward channel, and the technical form shows a bull-dominated pattern. The lower rail support of the channel is concentrated in the 2773-2786 area, and the upper key breakthrough level of 2800 constitutes a bull acceleration node. If the price effectively breaks through the 2800 mark, it is expected to trigger short stop loss orders and drive inertia to rise. The theoretical bull target can be seen in the 2817-2820 area, with a continuation space of about 1.2%-1.5% (calculated based on a fluctuation benchmark of 20-25$)
✅The upper rail of the Bollinger band at the daily level 2822 forms a resonance suppression with the weekly TD sequence resistance. From the 4-hour chart, the RSI remains above 50, and the MACD column is flat above the zero axis, indicating that the bullish momentum has not yet exhausted. The increase in open interest in CME gold futures, in conjunction with the upward price movement, confirms the entry of new funds.
🔴Resistance structure:
- Initial suppression: 2800 integer psychological barrier (prone to short covering after breaking through)
- Core target resistance: 2817-2820 Fibonacci extension level (61.8% retracement area at daily level)
🟢Support structure:
- Primary defense support: 2790-2788 range (intraday long and short watershed)
- Secondary reinforcement support: 2785-2773 channel lower track area (trend continuation core defense line)
✅Intraday trading strategy:
🔸 Long strategy
- Aggressive signal: When the price retreats to around 2792 (±2 USD) for the first time, you can arrange long orders with a light position, and set the stop loss at 2787 (exit the market when the previous low is broken)
- Steady increase in position: If the price falls back to 2785 (the middle track of the channel), you can arrange long orders for the second time, and the overall position stop loss will be moved down to 2778 (the buffer zone of 5 USD below the lower track of the channel)
- Breakthrough pursuit: After effectively standing at 2802 (confirmed by the closing of 15 minutes), you can follow the trend to pursue long positions, and the target is to stop profit in batches in the range of 2815-2820
🔹 Short strategy
-Short against the trend: When the pressure zone of 2818-2820 is touched for the first time, a light position can be used for shorting, with a stop loss set at 2823 (US$3 above the previous high), and a target of 2808-2805
-Trend reversal signal: The price needs to fall below 2785 continuously and the hourly chart closes below 2775 before a reversal operation can be considered
⛔Risk management:
-Position management uses an initial risk exposure of 5%, which can be increased to 8% after breaking through the key position
-Avoid guessing the top against the trend in a short squeeze, and pay special attention to the risk of liquidity shock during the US trading session
-The holding time of long positions should not exceed the Asian and European trading cycles, and the momentum indicators need to be re-evaluated before the US trading session
✅The upper rail of the Bollinger band at the daily level 2822 forms a resonance suppression with the weekly TD sequence resistance. From the 4-hour chart, the RSI remains above 50, and the MACD column is flat above the zero axis, indicating that the bullish momentum has not yet exhausted. The increase in open interest in CME gold futures, in conjunction with the upward price movement, confirms the entry of new funds.
🔴Resistance structure:
- Initial suppression: 2800 integer psychological barrier (prone to short covering after breaking through)
- Core target resistance: 2817-2820 Fibonacci extension level (61.8% retracement area at daily level)
🟢Support structure:
- Primary defense support: 2790-2788 range (intraday long and short watershed)
- Secondary reinforcement support: 2785-2773 channel lower track area (trend continuation core defense line)
✅Intraday trading strategy:
🔸 Long strategy
- Aggressive signal: When the price retreats to around 2792 (±2 USD) for the first time, you can arrange long orders with a light position, and set the stop loss at 2787 (exit the market when the previous low is broken)
- Steady increase in position: If the price falls back to 2785 (the middle track of the channel), you can arrange long orders for the second time, and the overall position stop loss will be moved down to 2778 (the buffer zone of 5 USD below the lower track of the channel)
- Breakthrough pursuit: After effectively standing at 2802 (confirmed by the closing of 15 minutes), you can follow the trend to pursue long positions, and the target is to stop profit in batches in the range of 2815-2820
🔹 Short strategy
-Short against the trend: When the pressure zone of 2818-2820 is touched for the first time, a light position can be used for shorting, with a stop loss set at 2823 (US$3 above the previous high), and a target of 2808-2805
-Trend reversal signal: The price needs to fall below 2785 continuously and the hourly chart closes below 2775 before a reversal operation can be considered
⛔Risk management:
-Position management uses an initial risk exposure of 5%, which can be increased to 8% after breaking through the key position
-Avoid guessing the top against the trend in a short squeeze, and pay special attention to the risk of liquidity shock during the US trading session
-The holding time of long positions should not exceed the Asian and European trading cycles, and the momentum indicators need to be re-evaluated before the US trading session
Trade active
✅Intraday Trading strategy:🔶GOLD SELL: 2804-2808
🔰TP1: 2790
🔰TP2: 2780
🔰TP3: 2770 OPEN~
🔶GOLD BUY: 2770-2772
🔰TP1: 2780
🔰TP2: 2790
🔰TP3: 2800 OPEN~
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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.
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.