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Xauusdshort

Gold sell setup Why We Would Sell (Short) XAUUSD in This Setup: Strong Resistance Zone: Price is approaching a clear resistance level around 3,250, marked by multiple rejections in the past. This zone acted as a ceiling for the bulls — each time price reached this level, it got pushed back down, showing strong selling pressure. Double Top Formation (Potential Reversal Pattern): The price formed a potential double top near 3,250. This pattern often signals a shift from bullish to bearish momentum. Bearish Rejection Wicks: Candlesticks near the resistance show long upper wicks, indicating that buyers are getting weak and sellers are stepping in. Lower High Forming: After the second peak, price failed to make a new high, suggesting buying momentum is weakening. The current price action is forming a lower high, which is a bearish signal. Bearish Price Projection (Arrow Path): The blue arrow suggests a retest of the resistance zone followed by a strong drop down to the support zone at 3,187. This offers a good risk-to-reward ratio for a short trade setup. Trade Parameters: Stop Loss above resistance (around 3,250). Take Profit around 3,187 (previous support). This setup offers a clear invalidation point if the price breaks above resistance.
OANDA:XAUUSDShort
by mathumboFX
3
Gold has two winning streaks, how to trade in the short term?The 1-hour moving average of gold has begun to turn gradually, and the strength of gold bulls has begun to weaken. Gold may continue to adjust in the short term. The 1-hour short-term double top structure of gold. Gold subsequently rebounded but did not continue to set a new high. Today, the rebound was under pressure at 3232 and began to fall back.Gold still has the opportunity to adjust, and gold will continue to watch the adjustment market in the short term. Trading ideas: Short gold near 3230, stop loss 3240, target 3200
TVC:GOLDShort
by Fortune-signal
1
How to profit from gold volatility!📌 Driving events Looking ahead to this trading day, whether gold prices can rise further may still depend on Trump's tariff headlines and the upcoming Fed speech, as there is still no top economic data released on the US calendar 📊Comment analysis In fact, the US trading time for gold today is to pay attention to short-term adjustments. Gold now seems to be accustomed to gold bulls for risk aversion. Although gold is supported by risk aversion today, the strength of gold bulls is not very strong. Gold has repeatedly hit highs and fallen back. Gold 3228 continues to be short, and the decline is harvested. The US market rebounds 3225 and continues to be short. Gold falls again and harvests. Gold is still adjusting at a high level. Don't chase the high for the time being. Gold rebounds and rushes high and can still continue to be short. Today, short-term gold bulls have begun to be unable to do their best, so gold bears may start at any time. Gold still has the opportunity to adjust. Gold continues to watch the adjustment market in the short term and pay attention to trading signals in time. Card the price and participate well. Grasp the rhythm of long and short two-way transactions. You will find that this volatility is much more fun than the big volatility. 💰Strategy Package US trading ideas: Short gold at 3230-35, stop loss at 3240, target at 3190-3180; ⭐️ Note: Labaron hopes that traders can properly manage their funds - Choose the number of lots that matches your funds - Profit is 4-7% of the fund account - Stop loss is 1-3% of the fund account
TVC:GOLDShort
by Labaron
2
Gold is brewing a big drop!After the tariff issue was moderately cooled, gold returned to calm and volatility gradually narrowed! From the candle chart, although gold did not form an effective decline, the bullish momentum slowed down significantly! Since gold rose near 2970, it has reached a high of around 3246. The bulls did not get a respite. After the news returned to calm, gold may usher in a technical retracement repair; gold has been blocked near 3246 many times in the past two days, and the upper shadow line clearly shows a rejection signal! In the current gold structure, gold has formed a secondary high point near 3232, and it is very likely to combine the 3246 high point to form a double top structure, which is conducive to the decline of gold to a certain extent; In addition, compared with the market's expected targets of 3300 and 3400, the upper side belongs to an unknown area and is more risky, while the lower side has a previous historical track. From the perspective of market psychology and risk preference, gold prices may be more willing to retreat. So in the short term, I will still not give up my short position. Once gold falls below the 3205-3200 zone, the area around 3190 will not be able to stop the decline of gold. The retracement target area is located in: 3160-3140 zone. The trading strategy verification accuracy rate is more than 90%; one step ahead, exclusive access to trading strategies and real-time trading settings
OANDA:XAUUSDShort
by Trader_Marvin
1
GOLD (XAU/USD) at ATH – Two Key Scenarios to WatchGold has reached ATH, and we're currently testing a critical resistance zone. Look at my previous published post, perfectly played out and we're just getting started. 📈 Scenario 1: If the 1H candle body breaks above resistance with a confirmed close, we’re likely to see a push toward the $3,300 level before a potential pullback toward $3100 📉 Scenario 2: If we fail to break resistance, a pullback toward the $3,100 zone is expected before a bounce back to $3,350. Wait for a retest confirmation on the 1H candle body closure before taking any position. Updates will be published!
OANDA:XAUUSDLong
by mrdundeee
1
4/16 Gold Trading StrategiesYesterday, gold moved within a narrow range, as anticipated. After rising toward the 3230 level, it encountered selling pressure and pulled back, which provided us with some profitable short-term opportunities. Currently, gold has broken above 3240 and continues to climb steadily. A conservative estimate suggests that a push toward 3250 is achievable without much resistance. However, this is a new high, and after a rapid ascent, it’s common to see profit-taking from long positions and short sellers entering the market from the sidelines. Therefore, chasing long positions at current levels carries increased risk and should be approached with caution. Today’s Trading Recommendations: Sell Zone: 3255 – 3270 A potential resistance zone where short positions may be considered. Buy Zone: 3178 – 3158 Key support area for initiating long positions if the price corrects. Range Trading Zones: 3240 – 3220 3188 – 3220 Suitable for flexible trading strategies based on real-time price action and candlestick signals. Summary: While gold remains in an uptrend, the market is approaching a sensitive area where both selling pressure and volatility may increase. Be cautious with chasing highs, and focus on technical levels for strategic entries and exits. The potential for a short-term reversal or pullback remains if resistance holds strong.
FOREXCOM:XAUUSDShort
by China_MsWang
Gold Price Analysis April 15Frame D shows some selling pressure that could be profit-taking by investors but has not yet confirmed the appearance of a downtrend. The h4 wave structure is still leaning towards the bulls quite a bit when the 3215 zone has been noticed by buyers Gold is rejecting the 3232 price zone, trading around 3223, creating a fairly important resistance zone at 3232. Trading scenario This decline is still quite strong and can decrease to the support zone of break out 3215. In the US session, pay attention to the price reaction of this zone to buy. If it bounces strongly from 3215, you can consider holding it long. On the contrary, if it breaks through 3215, 3203 is the destination for the SELL signal. 3237 is an important resistance zone today. If the price breaks this zone, it will confirm an ATH in the US session.
OANDA:XAUUSD
by TVS-Trader
XAUUSD Gold in Overdrive: Awaiting a Critical Pullback for a BuyDaily Chart Analysis On the daily chart, XAUUSD has surged to new highs, signaling an overextended market as gold rallies far above previous price swings. The price is now trading at a premium, which indicates that much of the bullish momentum may already be priced in. As a result, there is potential for a pullback toward a more attractive entry area. Specifically, a retracement into a discounted zone—ideally below the 50% level of the previous swing—may offer a better long opportunity rather than entering at these extended levels. 📈⚠️ 4-Hour Chart Analysis Examining the 4-hour timeframe reveals more granular price action that aligns with the daily trend. Here, gold displays signs of potential exhaustion with the recent impulsive moves. The market structure hints at the possibility of a short-term setup if the price begins to reverse, aligning with basic Wyckoff theory principles. This suggests that while there might be an interim short play if the reversal is confirmed, the expectation remains that a healthy pullback will eventually pave the way for a new long opportunity once the price finds support. 🔻🤔 Integrating Price Action, Market Structure & Wyckoff Theory Using elements of Wyckoff theory, it's clear that the current rally has pushed the market into an overbought state. • The price action indicates a likely initiation of a distribution phase, where selling pressure might temporarily take over. • A pullback into the discounted zone (particularly under the 50% retracement of the prior range) would be an ideal opportunity to look for a buying setup. • On the flip side, if the shorter-term setup solidifies, a conservative short play could be considered until signs of accumulation emerge. This dual perspective underscores the importance of disciplined risk management and monitoring short-term reversals while keeping an eye on the broader trend. 🔍📉💡 Summary of Key Takeaways XAUUSD is currently overextended with a strong rally to new highs. While the momentum is robust, the premium pricing compared to previous swings suggests caution. A pullback into a discounted zone, specifically below the 50% retracement level, could provide a more enticing entry point for those looking to go long. Concurrently, the 4-hour chart offers potential setups for a short play should price action indicate a reversal. Coupling these observations with Wyckoff theory fundamentals can allow for a balanced, dynamic trading strategy. 🔄 Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a professional before making any trading decisions.
PEPPERSTONE:XAUUSD
by fxtraderanthony
Gold’s latest strategic ideas, mainly short selling on reboundOn Monday (April 14), gold fluctuated slightly and remained around $3,197. Last Friday (April 11), the price of gold broke through $3,200, reaching a historical high of $3,245.26, with a weekly increase of 6.6%, the largest weekly increase since March 2020. This round of rise was mainly driven by the escalation of trade frictions, the plunge of the US dollar, the increase in expectations of the Federal Reserve's interest rate cuts and geopolitical risks. The weak US economic data and rising inflation expectations strengthened the safe-haven properties of gold. From a technical perspective, the daily level shows short-term correction pressure. On Monday, a small negative column with a long upper shadow was closed. Pay attention to the support of 3180 below. If it falls below, it may fall further. The 4-hour level shows a high-level oscillation pattern, with the upper resistance at 3235-3240 and the lower support around 3200-3180. In terms of operation, it is recommended to focus on high-altitude trading: shorting with a light position near 3225-3235 US dollars. If the gold price rebounds to around 3200 and stabilizes, you can try short-term long. Be alert to the intensification of market volatility. Gold recommendation: shorting near 3225-3235 on the rebound, target 3205.
OANDA:XAUUSDShort
by Patrick-Daniel
Gold hits record high again! Intraday gold trading analysisFundamentally, although risk sentiment improved at the beginning of this week, Trump's policy changes caused gold prices to fluctuate and adjust, but due to the lack of obvious and sustained negative prospects and the uncertainty in the market, gold prices continued to be stabilized by safe-haven demand and strengthened upward. In addition, last week's inflation data was lower than market expectations, which strengthened the prospect of the Fed's interest rate cut. In addition, the monthly chart of the US dollar index has gone out of the 2-year top divergence, suggesting that there is a large and sustained decline in the future market, as well as increased policy uncertainty, which will also provide long-term support for gold prices. Moreover, although the market also expects that tariff policies may push up inflation in the future, US consumer confidence deteriorated sharply in April, and 12-month inflation expectations rose to the highest level since 1981, but this will also enhance gold's anti-inflation appeal and push up safe-haven demand. It is also good for gold prices. Analysts specifically reminded that market liquidity may decline before the Good Friday holiday, and any sudden policy changes may trigger sharp fluctuations. Traders are waiting for the next major fundamental development to drive the gold market, but the technical chart is still bullish. There is still safe-haven demand in the market. Gold is a safe-haven asset in times of political and financial uncertainty. The dollar index was at a nearly three-year low on Tuesday, making gold relatively cheap for buyers holding foreign currencies. Investors are waiting for a speech by Fed Chairman Powell scheduled for Wednesday to look for clues related to interest rates. During the day, attention will be paid to data such as the U.S. retail sales monthly rate in March, the U.S. industrial output monthly rate in March, the U.S. NAHB housing market index in April, and the U.S. commercial inventory monthly rate in February. Although the retail data is expected to be bearish for gold prices, the subsequent overall data is bullish for gold prices. Therefore, the steady trend is still either volatile or continues to rebound and strengthen, and the operation is still biased towards low-multiple bullish. Analysis of gold market trend: Technical analysis of gold: Yesterday, the price of gold always fluctuated in the range of 3210 to 3233. At the opening of today, the price of gold broke through the fluctuation range in one fell swoop and showed an accelerated upward trend. So far, it has successfully refreshed the historical high and reached the 3285 line. Gold opened for risk aversion and directly broke through the new high. The short-term adjustment ended and finally completed the adjustment in a fluctuating manner. This kind of strong bullish market with a breakthrough will basically not have a big decline. Since gold has chosen to break upward, the decline of gold now is an opportunity to go long. The first thing to pay attention to now is the top and bottom conversion position of the support line 3245 below! For intraday short-term trading, the first thing to pay attention to is the support strength near 3245. This position was the previous high point, and pay attention to its top and bottom conversion effect. Secondly, the support level near 3232 should not be ignored. This is the high point of yesterday's fluctuation range. Today's opening price broke through this position and accelerated upward. The top and bottom conversion support role of this position during the decline is worth paying attention to. The 1-hour moving average of gold has begun to turn upward. If the 1-hour moving average continues to diverge upward, the bulls will continue to exert their strength. After gold breaks through 3245, 3245 has formed a short-term support. Go long on dips when it falls back to 3245. The strength of a wave of gold is still there at that time. So after the surge, you must wait patiently for adjustments and continue to go long. Go long when it falls back to around 3248. It is particularly important to point out that the low point of 3211 during the US trading session yesterday is the key support level for the short-term market trend. Once the price effectively falls below this position, it is necessary to be alert that the market may launch a substantial adjustment. On the whole, the short-term operation strategy for gold today is to go long on pullbacks and short on rebounds. The short-term focus on the upper side is the 3285-3290 line of resistance, and the short-term focus on the lower side is the 3245-3240 line of support. Friends must keep up with the pace. ​ Gold operation strategy reference: Strategy 1: Short gold when it rebounds around 3280-3290, target around 3255-3250, and look at 3245 if it breaks. Strategy 2: Long gold when it pulls back around 3245-3250, target around 3260-3275, and look at 3290 if it breaks. ​
OANDA:XAUUSDShort
by Patrick-Daniel
Continue to buy at the lower levels.Today, XAU/USD has been in a sideways consolidation phase😶, oscillating within the narrow range of 3,200 to 3,230. From a technical analysis perspective📊, the price action is currently trapped between these two key levels, with the moving averages showing a lack of clear direction. The Relative Strength Index (RSI) is hovering around the 50 mark, indicating a state of equilibrium between bullish and bearish forces. In terms of trading strategy🧐, considering the current market dynamics, going long at the lower end of this range presents an opportunity😃. The lower bound of 3,200 has proven to be a relatively strong support level in recent sessions, as evidenced by multiple price bounces from this point. However, it is ill - advised to go short at the higher end😒. This is because the current international situation is rather gloomy😟, fraught with numerous unstable factors. Geopolitical tensions are on the rise, and economic uncertainties are clouding the outlook. In particular, if the tariff issue escalates once more😡, given the robust safe - haven function of XAU/USD, its price is highly likely to surge again📈. Historically, during times of economic and geopolitical turmoil, gold has consistently attracted investors seeking refuge, leading to significant price appreciations. 💰💰💰 XAUUSD 💰💰💰 🎯 Buy@3200 - 3210 🎯 TP 3230 -3250 Traders, if you're fond of this perspective or have your own insights regarding it, feel free to share in the comments. I'm really looking forward to reading your thoughts! 🤗 👇The accuracy rate of our daily signals has remained above 98% throughout a month 📈! You are warmly welcome to follow us and join in on the success 🌟.👉
FOREXCOM:XAUUSDLong
by PearlMichael
Gold prices remain strong, trade war panic boosts safe-haven dem 📌 Driving events Atlanta Fed President Bostic's statement further strengthened the bullish logic of gold. He bluntly stated that the current economy has fallen into a state of "great pause" and suggested that the Fed maintain policy stability. This policy uncertainty, coupled with potential inflation risks, makes non-yielding gold show a unique charm. Historical experience shows that gold often outperforms other asset classes in a low interest rate environment and policy uncertainty. The current market expects that the Fed may be forced to cut interest rates when inflation is high, and this special situation has created an ideal upside space for gold. The current gold market is showing a rare perfect resonance between technical and fundamental aspects. Trade war risks, policy uncertainty and inflation expectations together constitute the "golden triangle" of gold's rise. Considering that the potential impact of Trump's tariff policy has not yet been fully released, the Fed's policy path is still uncertain, and gold prices may open up more room for growth after breaking through historical highs. For investors, in the current macro environment, increasing gold holdings may become an important choice to hedge portfolio risks. This risk aversion frenzy caused by the trade war may have just begun. 📊Comment Analysis From a technical perspective, the upward trend of gold prices has been further confirmed after breaking through the key resistance level of $3,200. Market analysts pointed out that as long as the price of gold remains above the support level of $3,180, the upward channel will remain intact. Gold prices are trading sideways waiting for prices to rise and continue to hit new highs 💰Strategy Package Long positions: Actively participate at 3225-3235 points, with a profit target above 3240 points Stop loss at 3210 ⭐️ Note: Labaron hopes that traders can properly manage their funds - Choose the number of lots that matches your funds - Profit is 4-7% of the fund account - Stop loss is 1-3% of the fund account
OANDA:XAUUSDLong
by Labaron
2
Gold reached 3275 and will continue to move towards new highs 📌 Driving Events Kitco Metals senior analyst Jim Wyckoff pointed out: "The gold market is waiting for new catalysts, but the technical side remains strong and the safe-haven demand remains solid." It is worth noting that the US government has recently launched an investigation into the import of drugs and semiconductors in preparation for the imposition of tariffs. Trump has also made it clear that the details of the semiconductor import tariff will be announced this week. 💢 Investors please pay close attention to the following key events: Fed Chairman Powell's speech on Wednesday (interest rate policy orientation) US retail sales data on Wednesday ECB interest rate decision on Thursday (expected to cut interest rates by 25 basis points) Specific implementation details of Trump's tariff policy 📊Comment analysis In my previous post interpretation, I suggested that the gold price should be sideways, waiting for the price to continue to rise to a new high. Today, Wednesday (April 16), the Asian market broke a new high as expected in the early trading. As of now, the gold price is $3275 Now after two days of adjustment, the gold price has broken through again, and the resistance level of 3255 has also turned into support. The next step is 3280 and 3300. Follow the trend, participate in one direction, and continue to be long today. 💰Strategy Package Long position: Actively participate at 3270-3275 points, profit target above 3295 points Steady participation at 3250-3260 points, profit target above 3280 points ⭐️ Note: Labaron hopes that traders can properly manage their funds - Choose the number of lots that matches your funds - Profit is 4-7% of the fund account - Stop loss is 1-3% of the fund account
OANDA:XAUUSDLong
by Labaron
1
Gold surges to a new high, market analysis and operation layoutToday, the price of gold has been rising all the way in the Asian session, reaching a high of around 3317. From the perspective of the general trend, the overall trend of gold remains bullish. The high point we see now is only a temporary high point. It is very likely that the European and American sessions will break through again in the later period, so don't blindly guess the top. At present, the relative low point has risen by nearly 80 points, and there is a trend of further hitting new highs. Once it breaks the high again, it will continue to hit the 3330-50 line. Therefore, we still maintain the main decline in intraday trading. If the European session maintains a small sideways fluctuation, then the US session will most likely launch an upward attack again. What needs to be focused on at the moment is the extent of the bulls' callback repair. In view of the current volatile market, a drop of tens of dollars may only be a normal adjustment of the bulls, not a trend reversal. At present, the lower support can refer to the low point of 3280, which can also be used as an important reference for European market operations. The top short-term focus is on the first-line resistance of 3330-3350, and the bottom short-term focus is on the first-line support of 3275-3280. Bros, when you keep up with the pace of trading, you must control the risks reasonably. Intraday gold operation suggestions sell 3330-3340 TP 3320-3310 buy 3280-3290 TP 3310-3330 If you agree with this point of view, or you have a better idea, please leave a message in the comment area. I look forward to hearing different voices. OANDA:XAUUSD CAPITALCOM:GOLD FOREXCOM:XAUUSD FX:XAUUSD
OANDA:XAUUSDLong
by GoldHunter_Allen
2
XAUUSD Today's strategyAfter the trade war regarding tariffs eased, the price of gold did not decline. After a slight adjustment yesterday, the downward trend did not continue. Currently, gold has strengthened again and has risen above $3,220. It had soared due to the trade war regarding tariffs but did not plummet sharply as the situation of tariffs eased. In terms of technical trends, a new support level has been formed in the $3,190 area for gold. At the 4-hour level, a pattern of high-level consolidation has emerged. This high-level consolidation pattern still indicates a bullish sentiment. Once there is a breakthrough, it will mark the beginning of a new upward trend. At present, the trend is favorable, and our bullish view remains unchanged. The market is fluctuating rapidly. In the early trading session, we have already entered a long position near $3,210. Whenever there is a pullback in the intraday trading and the price stabilizes at the support level, it presents an opportunity to go long. XAUUSD buy@3200-3210-3220 tp:3235-3245 I hope this strategy will be helpful to you. When you find yourself in a difficult situation and at a loss in trading, don't face it alone. Please get in touch with me. I'm always ready to fight side by side with you, avoid risks, and embark on a new journey towards stable profits.
OANDA:XAUUSD
by H_C_12
1
4/15 Gold Trading StrategyYesterday, gold experienced a mild pullback and found support near the 3200 level. As mentioned during intraday updates, as long as 3188 holds, it remains a good opportunity to consider buying. Currently, the price has rebounded above 3220. From the candlestick formation, the trend remains strong, and there is still room for further upside. The previous high near 3245 is likely to be tested again, and there’s potential for a move towards 3260. However, it’s important to pay close attention to the 3230–3240 zone, which was a key area of trapped long positions from last week. This supply zone hasn’t been fully tested since the last drop, and as prices revisit this area, those looking to break even may create significant selling pressure. If this pressure leads to a rejection, we could see a sharp pullback. Structurally, a failure to break above this resistance could signal the formation of a short-term top, presenting a tactical opportunity for the bears. Conversely, if gold manages to break and hold above 3245, short-term bullish momentum may continue, though the 3250–3270 region remains a strong resistance zone. On the downside, if prices retreat again and break below 3188, it will likely confirm a deeper correction. Key support then shifts to the 3158–3147 range, which represents a significant medium-term support zone. Today’s Trading Recommendations: Sell Zone: 3250-3270 – A strong resistance area, suitable for initiating short positions for aggressive traders. Buy Zone: 3158 - 3147 – A technical support region ideal for light long entries if price pulls back. Range Trading: 3240 -3200 and 3178 -3220 – These zones are suitable for flexible trading strategies based on real-time momentum and price behavior. Summary: Gold remains in a short-term bullish trend, but significant resistance lies ahead. Caution is advised when chasing long positions at higher levels. If holding short positions from the 3230+ area, avoid emotional stop-losses—patience could offer better exit opportunities as the market corrects. A bearish setup is brewing, and once a clear direction emerges, volatility may increase rapidly. Be prepared with a solid plan in advance.
FOREXCOM:XAUUSDShort
by China_MsWang
XAUUSD SHORTSolid market moves the past few days, I thought it was going to continue and it was safe because market started to stabilize again. However, as expected, one word from Trump and made the market spiraling again. Because of the hold on tariff announcement, we are now back to 3170 level again. Howver, for me, moves like these are always good opportunity for retracement. Opening at 3170// first TP at my prev opening then final at 3000 so we can still be in profit and croos out the previous one. setting a long SL on this one just to be sure at 3270. Let's see how this rolls Day210f100 L:6 W:5
OANDA:XAUUSDShort
by delrosariohanan
21
Today's market analysis, gold continues to riseAt present, the general trend of gold is still bullish. Although the daily line closed with a cross negative line, this does not mean that gold will fall sharply in the short term. From the weekly line, gold is still in the upward channel. Yesterday, it rebounded quickly after stepping back to around 3195, indicating that the short-term correction is just to accumulate momentum for subsequent gains. The integer mark 3200 is the key support. Once it is broken, the lower support moves down to around 3175. If a waterfall-like drop occurs, it must effectively fall below 3175. The upper resistance is initially seen at 3215, and it is possible to break through here and continue to rise. However, it should be emphasized that we only go long when it falls back, and resolutely do not chase high, and beware of the risks brought by the high and fall back. Summary strategy: 3220 long, stop loss 3209, target 3235 Important reminder: 1. Steady type maintains ≤5% position. 2. Aggressive traders with sufficient funds can enlarge to 8%, but they need to strictly set a stop loss or flexibly move the stop loss manually to avoid accidental losses! 3. The stop-profit and stop-loss positions need to be adjusted dynamically for every 10 USD fluctuation in the short term. Trading is not easy, but requires meticulous thinking and rigorous operation. If you want to get out of the quagmire of losses as soon as possible and get on the right track of steady gains, it is very simple. Find Quid and follow his guidance! For more trading signals, you can join my free channel.
OANDA:XAUUSDLong
by Quaid-1
1
Gold’s decline is not over yet, aim at: 3160-3150Gold fell below the 3200 mark several times during the test. Although it recovered above 3200 several times, the rebound momentum is gradually weakening, giving short sellers the opportunity to counterattack. From the perspective of the morphological structure, gold has perfectly constructed an arc top structure, laying a solid foundation for gold to usher in a retracement at any time. The 4-hour candle chart shows that the fall has just begun, so gold still has plenty of room for retracement. At present, gold has rebounded slightly after touching around 3200, but if it cannot break through the 3216-3220 zone during the rebound, it will further confirm the downward trend of gold, then gold will inevitably retreat to the 3160-3150 zone, and in the process of decline, once the profit chips are cashed in or even panic selling is triggered, gold may even have the opportunity to retreat to the 3130-3120 zone! Therefore, in terms of short-term trading, I still advocate shorting gold in batches. The decline of gold has not ended. Let us look forward to gold bringing us huge profits during the retracement! The trading strategy verification accuracy rate is more than 90%; one step ahead, exclusive access to trading strategies and real-time trading settings
OANDA:XAUUSDShort
by Trader_Marvin