XAUUSDGC1!GOLD So far, gold has continued to fluctuate in the 3110-3136 range. Although the candle chart has many long lower shadows, the high point is moving down. If this trend is not broken, the probability of falling below 3100 today is very high, so when trading, everyone must be cautious. Personally, I suggest selling as the main method.
XAUUSDGC1! ADP data will be released in 10 minutes. If the data fails to break through the shock range after the release, we can continue to buy low and sell high within the range. If it breaks through, we will re-evaluate the trading direction according to the breakthrough situation.
XAUUSDGOLDGC1! The price has risen, and buying has made money. The upward momentum is still continuing. If you don't want to close the order, you can wait a little longer. If you are not greedy, you can close it now.
XAUUSDGC1!GOLD After yesterday's decline, although there was some rebound, the indicator was not completely consumed. At present, gold still has a rebound demand. The main resistance is near 3028. You can buy in the current transaction. Pay attention to risk control. In addition, there is also weak resistance near 3121, so the TP setting should not be too large. If the price cannot break through 3128, you can consider selling, and the price may reach 3100 again during the day.
If the bulls are strong, today's high point can focus on the 3142-3152 range
After yesterday's upward movement, gold experienced a deeper pullback, testing the 3100 area before rebounding to around 3120. However, based on technical indicators, the bullish outlook remains uncertain.
The key resistance to watch is around 3125—if the price fails to break through, we shouldn't expect higher levels today. In that case, the main trading direction will be short positions, with a possible drop to 3086 before tomorrow’s data release.
However, if 3125 resistance is broken and sustained, bulls may attempt another rally towards 3138-3150. On the bearish side, support in the 3103-3096 region is crucial.
XAUUSDGOLDGC1! delivered today — two solid trades: first a long on the final wave of the ending diagonal, then a short on the reversal. How was your trading day?
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