NFP is about to announce whether gold can break through 2484
Updated
I must remind you that my strategy is very long, but it is rich in analysis and details. Be sure to read it carefully. This is a great learning opportunity and I hope you don’t miss it.
8.2 Sharing of gold strategies and operation ideas
With the escalation of the Middle East conflict crisis and the Fed's dovish stance, yesterday's multiple data were bullish for gold, pushing the gold price to move up continuously. Today, the Asian and European sessions have once again ushered in a rare pull-up, with the highest point reaching 2468. Under this general background, we can still maintain the bullish strategy unchanged.
As risk aversion caused by geopolitics in the Middle East escalates, coupled with the possibility of expanding conflicts at any time, gold may once again experience a sharp rise.
The Fed's September rate cut is a foregone conclusion, and the probability of increasing the rate cut basis point is still rising. This is the first rate cut in more than four years, and the impact can be imagined.
From the daily chart, under the bullish technical background, it is inevitable that the gold price will test the historical high of 2484 points, but considering that the current gold price is relatively high, there may also be the possibility of a sharp price correction due to profit-taking. Therefore, our idea is to be bullish, but not to chase the rise, and wait patiently for the price to fall back.
Although today's NFP data is an unstable factor, I think that in the context of the generally optimistic market, the negative impact of NFP data will not be too great. If it is negative, it will give us the opportunity to intervene at a lower price. On the contrary, if it is positive, everyone will be happy.
Operation strategy: Be conservative and wait until around 2335 to intervene, and be aggressive and intervene at 2350.
8.2 Sharing of gold strategies and operation ideas
With the escalation of the Middle East conflict crisis and the Fed's dovish stance, yesterday's multiple data were bullish for gold, pushing the gold price to move up continuously. Today, the Asian and European sessions have once again ushered in a rare pull-up, with the highest point reaching 2468. Under this general background, we can still maintain the bullish strategy unchanged.
As risk aversion caused by geopolitics in the Middle East escalates, coupled with the possibility of expanding conflicts at any time, gold may once again experience a sharp rise.
The Fed's September rate cut is a foregone conclusion, and the probability of increasing the rate cut basis point is still rising. This is the first rate cut in more than four years, and the impact can be imagined.
From the daily chart, under the bullish technical background, it is inevitable that the gold price will test the historical high of 2484 points, but considering that the current gold price is relatively high, there may also be the possibility of a sharp price correction due to profit-taking. Therefore, our idea is to be bullish, but not to chase the rise, and wait patiently for the price to fall back.
Although today's NFP data is an unstable factor, I think that in the context of the generally optimistic market, the negative impact of NFP data will not be too great. If it is negative, it will give us the opportunity to intervene at a lower price. On the contrary, if it is positive, everyone will be happy.
Operation strategy: Be conservative and wait until around 2335 to intervene, and be aggressive and intervene at 2350.
Trade active
The previous value of NFP data was 20.6, the forecast value was 17.5, and the published value was 11.4. The data is significantly bullish for gold. The unemployment rate is also bullish for gold. Today, we will see whether the historical high of 2484 can be broken and reach a new historical high.Trade active
When NFP and the unemployment rate were significantly bullish for gold, the market suddenly broke out into worries about recession. The US dollar, gold, silver, crude oil and other products all plummeted. The price of gold fell to a minimum of 2412, and the decline reached nearly 70 US dollars. It was terrifying. Our buy orders at 2450 and 2435 were also stopped out. Fortunately, we made a good profit during the rise of gold this week, and the overall result is still profitable.After the plunge, the gold price market today is no longer meaningful for analysis. We are not going to continue opening positions and will re-analyze next week. See you next week
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