Brothers, gold has been fluctuating at a high level. In the morning, gold kept testing the 2990 first-line resistance and deliberately broke through, but it always fluctuated back and forth within the 10-point range. From the 4H chart, the short-term upward channel of gold prices is obvious, but the upper 2990-3000 mark still has strong suppressive force on the gold price. It is more difficult to break through in the short term. However, one thing to note is that although the current MACD green column continues to expand, the RSI indicator is close to the overbought zone. In the short term, bulls may take profits, and gold is likely to stage a surge and fall at this key position. Therefore, in short-term trading, if gold fails to stand above 2990, we can short-sell near the 2985-2990 area, first look at 2950 below, and further explore the 2930-2920 support area.
Many friends who have read my posts have reported that my trading ideas and strategies are very helpful to them. I always firmly believe that profitability is the criterion for measuring strength, and seizing the opportunity is the key to victory. I will post every day to share my trading strategies and ideas for free. If you have just entered the market and don’t know how to make more profits, if you are already in it but the harvest is not ideal, then you might consider taking a look at my profile.
Many friends who have read my posts have reported that my trading ideas and strategies are very helpful to them. I always firmly believe that profitability is the criterion for measuring strength, and seizing the opportunity is the key to victory. I will post every day to share my trading strategies and ideas for free. If you have just entered the market and don’t know how to make more profits, if you are already in it but the harvest is not ideal, then you might consider taking a look at my profile.
Trade active
Bros, the highest price of gold has reached around 3004. Looking at the current hourly chart, the pressure around 3005 is obvious. We are still optimistic about the subsequent trading rhythm of gold falling back.Trade closed: target reached
Today is Friday. Although gold has risen rapidly in the past two days, we need to be alert to the risk of profit-taking after the big rise. Since the rising market started in 2832, the golden daily line has shown the pattern of three yang and three yin. If this pattern continues to be effective, the gold price is expected to close negative today. Therefore, intraday operations need to pay attention to the possibility of a high rise and then a fall.
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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.