The current gold market presents a pattern of "mid-term adjustment in the main bullish trend", with three key technical features: the rhythm of "high in the Asian and European sessions and fall in the US session" was formed at the beginning of the week; the price fluctuated and consolidated in the range of 2955-3055; the volatility shrank significantly, and the Bollinger Band daily line narrowed to the lowest level in nearly a month.
In terms of key forms, 2955 formed a three-pin bottom, and the 4-hour chart began to show the embryonic form of a head and shoulders bottom, with 3055 as the key breakthrough point. From Wednesday to Thursday, the Federal Reserve minutes and CPI data will be released, and the historical volatility shows that the probability of a change in the market is 68%. The liquidity gap in the Asian session is prone to false breakthroughs.
Short-term signal: Breaking through 3030 is a bullish signal, and falling below 3000 is a bearish signal. Mid-term signal: Standing firm at 3055 is a trend confirmation, and falling below 2955 is a bearish signal. Long-term signal: Breaking through 3150 is a structural change, and falling below 2900 is a bearish signal.
Trading strategy: Long positions are arranged in the range of 3015-3020, with a stop loss of 3007, and the target prices are 3055, 3100, and 3150. If it breaks through 3030, increase the position at 3020 and move the stop loss up to 3015; when it breaks through 3055, the long position does not exceed 2%, and a moving stop loss is used.
Key operating tips: Pay attention to data shocks after 20:30 in the US market. The first position accounts for 3%, and after breaking through 3030, increase the position by 2%, and the total risk is controlled within 2%. The order adopts an OCO combination, and a breakthrough order + callback order is set. Before the release of major data, keep a position below 30%, and the breakthrough transaction needs to wait for 15 minutes of K-line closing confirmation to avoid false breakthrough traps.
In terms of key forms, 2955 formed a three-pin bottom, and the 4-hour chart began to show the embryonic form of a head and shoulders bottom, with 3055 as the key breakthrough point. From Wednesday to Thursday, the Federal Reserve minutes and CPI data will be released, and the historical volatility shows that the probability of a change in the market is 68%. The liquidity gap in the Asian session is prone to false breakthroughs.
Short-term signal: Breaking through 3030 is a bullish signal, and falling below 3000 is a bearish signal. Mid-term signal: Standing firm at 3055 is a trend confirmation, and falling below 2955 is a bearish signal. Long-term signal: Breaking through 3150 is a structural change, and falling below 2900 is a bearish signal.
Trading strategy: Long positions are arranged in the range of 3015-3020, with a stop loss of 3007, and the target prices are 3055, 3100, and 3150. If it breaks through 3030, increase the position at 3020 and move the stop loss up to 3015; when it breaks through 3055, the long position does not exceed 2%, and a moving stop loss is used.
Key operating tips: Pay attention to data shocks after 20:30 in the US market. The first position accounts for 3%, and after breaking through 3030, increase the position by 2%, and the total risk is controlled within 2%. The order adopts an OCO combination, and a breakthrough order + callback order is set. Before the release of major data, keep a position below 30%, and the breakthrough transaction needs to wait for 15 minutes of K-line closing confirmation to avoid false breakthrough traps.
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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.