XAUUSD| Will it continue to rise?
Updated
✅After the opening yesterday, gold retreated to confirm the first-line support of 2690, and then the gold price rose. The European session broke through the early high, laying the foundation for the rise of the US session. After breaking through the key pressure level of 2700, the European and American sessions retreated to confirm the support, and continued to rise sharply. The daily K-line closed strongly, indicating that the gold price has the possibility of further rising. The overall trend of gold is currently biased towards bulls, and the operation idea of buying on dips continues, focusing on the support level of 2700.
✅The 4-hour chart shows that the gold price has a trend of falling after rising, and the K-line slowly falls below the short-term moving average. There may be some room for adjustment in the short term.
✅The 1-hour chart shows that the gold price maintains an upward trend in the short term and is still in a strong range. The gold price has broken through and stabilized above 2700, and the overall structure has not changed significantly. There is still room for further rise in the short term. The recurring pattern of recent moves suggests that continuing to go long after falling back to key support levels remains the primary strategy.
🔴Upper resistance: 2726-2730
🟢Lower support: 2698-2700
✅Intraday Trading strategy:
🔶GOLD SELL: 2726-2730
🔰TP1: 2720
🔰TP2: 2710
🔰TP3: 2705 OPEN~
🔶GOLD BUY: 2705-2708
🔰TP1: 2715
🔰TP2: 2725
🔰TP3: 2730 OPEN~
✅Gold is currently in a strong upward trend and is expected to continue to rise in the short term. Strictly set stop loss to ensure that risks can be effectively controlled when the callback reaches the key support position. At the same time, you need to pay attention to the strength of the retracement. If the retracement is too large, you need to adjust your trading strategy in real time.
✅The 4-hour chart shows that the gold price has a trend of falling after rising, and the K-line slowly falls below the short-term moving average. There may be some room for adjustment in the short term.
✅The 1-hour chart shows that the gold price maintains an upward trend in the short term and is still in a strong range. The gold price has broken through and stabilized above 2700, and the overall structure has not changed significantly. There is still room for further rise in the short term. The recurring pattern of recent moves suggests that continuing to go long after falling back to key support levels remains the primary strategy.
🔴Upper resistance: 2726-2730
🟢Lower support: 2698-2700
✅Intraday Trading strategy:
🔶GOLD SELL: 2726-2730
🔰TP1: 2720
🔰TP2: 2710
🔰TP3: 2705 OPEN~
🔶GOLD BUY: 2705-2708
🔰TP1: 2715
🔰TP2: 2725
🔰TP3: 2730 OPEN~
✅Gold is currently in a strong upward trend and is expected to continue to rise in the short term. Strictly set stop loss to ensure that risks can be effectively controlled when the callback reaches the key support position. At the same time, you need to pay attention to the strength of the retracement. If the retracement is too large, you need to adjust your trading strategy in real time.
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