XAUUSD - GOLD - Scalping Mode! 24th JuneLet's see what the market has to offer.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
Xauusdtrade
Continue to short gold after the reboundToday, gold still maintains the overall shock structure. In the short term, gold is in a weak rebound stage, but the rebound strength is relatively poor. Gold touched 2314 overnight and then fell again, and once fell below 2300 during the decline. From this point of view, the strength and space of gold's rise in the short term are limited, so in the past two days of trading, I have tried my best to avoid chasing gold.
On the other hand, although gold has not made any actual breakthroughs in the short-term decline, and there are signs of a rebound in the short term, it seems to give bulls hope, but I think this hope is likely to turn into disappointment. First, it is difficult for gold to surpass 2320 in the short term, and second, gold will still fall below 2300 during the decline. From the above two points, it seems that gold bulls are not very firm and may fall again and continue at any time.
Therefore, in today's trading, I will still insist on shorting gold after it rebounds. First, pay attention to the short-term 2310-2315 resistance area on the upside; during the period of gold's volatility, first pay attention to the support of the 2295-2290 area below.
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Don’t be fooled by the rise in gold, boldly short gold!Today's gold prices are more and more obvious, but yesterday's retracement trend and today's repeated failure to pull up, the trend is still obviously weak, and the short trend of gold is relatively obvious. Although today's ADP data is bullish for gold, gold did not rise immediately after the data was released, but swept back and forth, so the power of gold bulls is not obvious.
Now the short-term rise of gold has obvious signs of inducing more buying. Moreover, gold is not resolute in the process of rebounding and rising, and it still faces resistance in the 2345-2350 area in the short term. So don't be confused by the rebound of gold. On the contrary, now is a good opportunity to short gold. In addition, before the arrival of NFP on Friday, it is difficult for gold to have a unilateral market. It is expected that gold will still maintain a volatile trend to accumulate strength for the NFP market on Friday.
So now we can still rely on the resistance of the 2345-2350 area to boldly short gold!I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
Support test is effective, short-term long goldJust now, I reminded in the last article that you should add double position to long gold at 2315. Currently, gold has reached the highest position of 2330 in the short-term rebound. From the perspective of form, gold has not yet escaped from the range of shocks. In the evening, gold once again dropped to 2315 to test the effectiveness of the support level. Obviously, it did not fall below it. The support of 2315 is still very strong. It is expected that it will continue to fluctuate before the NFP on Friday, and the shock is to accumulate energy for the NFP market on Friday.
There is no doubt that the current trend is volatile. The bottom support is 2315 and the upper pressure is 2355. In the future, the gold price will fall to around 2315 again. We will still go long first. In the short term, we will first look to 2340, and then 2355. The only thing that can make me change my strategy is that gold successfully falls below 2315 and closes below. Otherwise, if it falls back, I can participate in short-term long gold transactions!
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Wide fluctuations in the area, sell high and buy low tradingStimulated by the risk aversion news, gold rose again to around 2355. I have already reminded you in my article yesterday. Gold is still not in a bearish trend overall. If gold rebounds to the 2345-2350 area and then falls, gold is still expected to test a new low, but the time period will be extended.
Gold fell back to around 2326 in the short term. Judging from the current trend of gold, I expect that before the NFP market, gold will most likely maintain a wide range of fluctuations. It is difficult to break through the upper side, and there is a solid support below. Therefore, before NFP, the performance of both long and short sides will not continue. Then we can use the support and resistance areas to sell high and buy low in the transaction.
At present, gold has fallen back, and we can participate in the short-term long gold in time. In the short term, we first focus on the support of 2330-2325 area, and the resistance of 2345-2350 area on the upper side.
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The rebound is an opportunity to short goldAt present, gold has rebounded after touching the 2315 position, and has taken a bottoming-out and rebounding trend. However, from a technical perspective, gold has shown a clear willingness to go down. After gold fell below the 2330-2320 area, strong resistance was formed at 2335 and 2345 respectively. Combined with other periodic indicators to maintain a short position arrangement, the short trend of gold is strong!
Although gold is currently in a rebound stage in the short-term structure, according to the rebound strength, it is expected that the rebound space of gold is limited, so I think the rebound of gold is an opportunity to short. Don't think that 2315 is the bottom. Gold is likely to try to test 2300 or even 2280 during this round of decline.
So in terms of trading today, the idea of shorting at high levels remains unchanged. First, pay attention to the 2330-2335 resistance area, and then pay attention to the 2340-23450 resistance area. The former is regarded as the key of bears to test the low point again, or even break below 2315; the latter is the short-term strong defense of bears in the short-term volatile trend. In other words, below 2330, bears can complete the intraday low or new low in the short term; and after rebounding to 2345 and then falling, although there is still hope to test the new low, the time period will be longer.
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TRADE SETUP ON XAUUSDHey Trader,
Check out this analysis on XAUUSD.
A long entry plan is best above the intraday resistance area.
Alternatively, a short trade can be considered if the price breaks below the intraday key zone (support), retests, and resists. A short trade can be considered.
Trade safe.
The short sell is far from over, continue to short gold!At present, gold still maintains a weak downward trend and successfully breaks through the previous key support area of 2335-2330. It has already fallen below the previous low of 2325. Although it is just a puncture, the upward trend of shocks has been destroyed. The market trend has obviously changed. In addition, gold is running below the moving average today, and there is almost no resistance during the decline. The short-selling force will temporarily dominate the direction of the market.
As gold falls, the upper resistance also moves down. At present, the short-term resistance is concentrated in the 2340-2350 area. So we are still boldly shorting gold in this resistance area!
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Go long gold first, then go short goldGold has tended to be volatile in the past two days. As I predicted a few days ago, after the sharp decline, gold may digest the sharp decline in a volatile manner. Although the current market fluctuations are not large, it is still profitable. Judging from the current trend, the short-term decline has been alleviated, and the bulls have the motivation to continue to rebound. However, last week's high black candlestick chart was engulfed, laying the foundation for bearishness this week. The overnight strong impact also failed to break through the 2365 key point, indicating that there are still a lot of short pressure above 2360. So overall I still tend to be bearish on gold.
However, gold has now fallen back to around 2340. Before gold fails to fall below the 2335-2330 area, gold bulls still have room to fight back. So for the time being, I will not be too bearish on gold. In terms of short-term trading, I think both long and short sides have the potential to make profits.
So it has fallen back to around 2340. We can first participate in short-term long gold. After gold rebounds, we can consider shorting gold at the right time!
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Gold's fall is not enough, continue to short gold!Today, gold once again tested Friday's US market high near 2347 and continued to fall. It did not continue to sprint to the 2350-2355 area. Gold is still in the low-level shock repair stage. Moreover, there is some lack of strength during the rebound. Based on the current situation, gold may have to trade time for space. Gold's rebound failed to break through the 2350 level, so it is not too early to determine whether gold will stabilize and reverse upward. Only when gold's short-term heavy volume breaks through the 2350-2355 area will further rise and breakthrough be possible.
So in terms of trading, gold is still in a weak position until it breaks through the 2350-2355 area, so I would be more inclined to short gold. Then expect a new downtrend to break out.
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Gold loses key defense, short gold on rebound!Gold continues to fall sharply today. In recent days, we have basically maintained a short trading rhythm, so the profits we have made recently are still very good. Today we shorted gold near the 2368 position and successfully hit TP: 2357; just now we went long gold near the 2342 position and successfully hit TP: 2350 during the rebound of gold. Today, both the long and short sides have achieved good results! After our 19-game winning streak was interrupted overnight, we achieved another 2-game winning streak!
At present, the short energy of gold is strong, and the short trend is very obvious. And today, gold fell below the key support areas of 2350 and 2342 during its decline. Then the space below gold has been completely opened in the short term, so gold is likely to fall further. The performance of gold during the rebound can be used as auxiliary verification. Gold did not rebound strongly after the sharp decline. The bulls had no ability to resist and even lost the key support defense of 2350 and 2342. Coupled with the cashing out of early bull profits and the rising market following sentiment, gold will continue to be in a weak position in a short period of time, and gold may continue to fall to the 2320-2315 area, or even the 2285-2280 area.
So in the next trading, don't see that gold has fallen so much and just go long gold based on your feeling; we should follow the trend and look for opportunities to short gold. As the resistance area continues to move downwards, we will first focus on the 2350-2355 resistance area, followed by the 2360-2365 resistance area.
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Gold will fall after the rebound, so go short gold!The Federal Reserve's monetary policy is hawkish, and some officials even stated that they can continue to raise interest rates if inflation rises, causing a large-scale withdrawal of market interest rate cut expectations. Gold has plummeted all the way, and the current lowest has reached around 2355.Although gold has rebounded in the short term, the overall rebound is still weak.
It is not easy to accurately determine what rhythm gold will maintain after experiencing a sharp decline.But the decline has definitely slowed down, and since gold appears weak during the rebound, gold may not see a retaliatory rebound in the future, and may digest the sharp decline with shocks. It is expected that the rebound of gold will be limited, so we still have to maintain the trading idea of short selling at high levels in our transactions.
At present, gold faces short-term resistance in the 2370-2375 area, which is also the short-term top-to-bottom conversion area. So if gold rebounds and hits this resistance area, I would definitely try to short gold first.
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Profited $14K, short gold, and aiming at 2395-2390Today we have made very good profits in both long and short gold transactions. First of all, we went long gold near the 2412 position today. Gold successfully hit TP: 2423 during the short-term rebound;When gold hit resistance near the 2434 position, we then shorted gold near the 2432 position and once again successfully hit TP: 2420. In today's transaction, I made a total profit of more than $14K.We achieved better profits than yesterday and also continued our 16-game winning streak!
Gold has been on a roller coaster ride in recent days, with no continuation of the ups and downs. So it brings a certain degree of difficulty to our transactions. As far as the short term is concerned, I feel that without the stimulation of major good news, it will be difficult for gold to refresh the high of 2450 again, so 2450 is definitely the peak in the short term! In comparison, gold is currently in a relatively weak position. After all, gold has never been able to touch above 2440 during its recent rebound. Today it has not even been able to break through the 2430-2435 area, so the upward momentum has weakened.Relatively speaking, the short sellers are also slightly better.
Therefore, in terms of short-term trading, the top will first focus on the 2435-2440 resistance area. When gold rebounds to this resistance area and the upward momentum weakens, you can consider shorting gold. If gold falls below 2406, gold will completely open up the space below and fall further.
Trading requires courage and even more decisiveness. Execution is the only criterion for profitability.I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
Gold rebounds strongly, should we chase long gold?Today we went long gold near the 2412 position and successfully hit TP: 2423. It was still a good trading profit. At present, gold has rebounded strongly to above 2430. The bulls have regained control of the situation. How much more can gold rise? Do we still want to continue chasing gold?
There may be many people who have this question, and many people have even chased long gold. In fact, relatively speaking, I think gold bulls have reached a certain stage now, and the probability of another violent rise should be low; and gold has formed long upper shadow lines many times during the rebound, so there is still a certain degree of resistance above.and the energy of the bulls has stagnated near 2430, so the short-term resistance faced by gold in the 2430-2435 area is still valid, and even if gold breaks through this area, I believe that with the current strength of the bulls, it will be difficult to break through the 2440 position.
So in terms of trading, I do not recommend chasing gold above 2430. On the contrary, we can consider shorting gold. Once gold falls below the 2405-2400 area, the space below will open further. Therefore, in the next transaction, we will mainly focus on shorting gold at high levels, focusing on the 2430-2435 area at the top; focusing on the gains and losses at the 2400 position below.
Trading requires courage and even more decisiveness. Execution is the only criterion for profitability.I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
Trading requires courage, short gold firstGold has been rising all the way to new highs. After gold hit a high near 2450, it encountered resistance and fell back. The strength of the rise has weakened. In the short-term trend, the top shock has obviously narrowed. In the short-term, it may re-choose its direction. Moreover, the technical level deviates from the technical indicators, and gold has a need for a correction. I don’t think it makes much sense to continue chasing gold at high levels now. Even if we want to be long gold, we have to wait for gold to pull back and stabilize.
Therefore, in terms of trading, do not easily chase gold at high levels. Gold continues to rise, and the energy of bulls needs to be released. So now it is either a quick adjustment to release, or a long period of sideways trading, exchanging time for space to release. So in terms of short-term trading, I prefer to short gold, and I have already done so.
Trading requires courage and even more decisiveness. Execution is the only criterion for profitability. Regret is meaningless.I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
26/3. Risk aversion has cooled, will gold fall sharply?
News: The United Nations Security Council passed a resolution clearly calling for an immediate ceasefire in Gaza and the release of all hostages.
Demands an immediate ceasefire during the Muslim fasting month of Ramadan, which ends in two weeks, and the release of all hostages held by Hamas in an attack on southern Israel on October 7 last year.
The deadline ends on April 9
Gold has retreated due to the impact of geopolitics. The lowest level reached 2167.
After the start of the Asian session, gold prices continued to impact upward. This proves that the bullish trend in the market is still relatively strong. Currently located at the 2172 line. On the other hand, the U.S. dollar fluctuated and fell from highs. The largest hedge funds may also abandon the United States and invest in Europe. It has also been pointed out that the US dollar is overvalued. The U.S. dollar index is currently above 104. Although the short-term ceasefire in Gaza has reduced risk aversion for gold. Not conducive to rising gold prices. But the overvaluation of the U.S. dollar is undoubtedly a support for gold.
Technically, gold has shown a bullish trend. Although there is no news boost, technical support is still strong. Observe the 2165-2162 line below. If the upper position stabilizes at 2175, then the probability of rising to above 2183 is very high. Of course, this also requires the U.S. dollar to take advantage of the trend.
In terms of trading, buying low is still the main trend today. The entire transaction is based on actual conditions.
2169-2166 buy
TP2177-2183
SL2159
Transactions are for reference only. If you have any questions please leave me a message. Like following live trading signals. Remember to stay tuned.
Investors are ready for tonight's CPI dataGold prices fell amid falling US government bond yields and a strong USD. The 10-year US government bond achieved a yield of 4.4% and decreased nearly 4 basis points compared to the opening level. The USD index (DXY), which tracks the movement of the USD against 6 other currencies, is currently down 0.03% to 105.00 and is struggling here.
The US Bureau of Labor Statistics (BLS) reported that the PPI Index increased 0.5% over the previous month, surpassing the forecast for a 0.3% increase. Similarly, the core PPI index, excluding food and energy prices, also increased by 0.5%, exceeding the expected level of 0.2%. Both figures were significantly higher than the 0.1% decline in March in both global and core inflation, indicating a jump in producer prices.
April CPI is expected to remain unchanged compared to March at 0.4% month-on-month. Core CPI is expected to continue its downward trend from 0.4% in March to 0.3% month-on-month.
Other data will be released during the week, led by Retail Sales on May 15, Initial Jobless Claims and Industrial Production on May 16.
The Fed released its monthly consumer expectations survey on Monday, showing inflation expectations for the year rising to 3.3% from 3% in March. The data came after a sentiment poll. University of Michigan consumer survey shows one-year inflation expectations rising from 3.2% to 3.5%.
Forecasts for an interest rate cut by the end of the year remain at 35 basis points, according to data provided by Chicago's CBOT exchange.