How to operate when gold is trading sideways at a high levelStimulated by risk aversion, gold has been rising all the way, strongly pulling bulls back, and then gold adjusted. However, the previous box was broken by shocks, and gold fell back and still got support on the upper edge of the box. Bulls once again made efforts to attack, and the price continued to test the high point line. After the daily cycle was corrected for five trading days, bulls rose again, and the high point was likely to be refreshed. Stop loss and exit for short-term short orders within the day. According to the extension of the amplitude of the rise from 3003 to 3036, 3066/3080 can be seen above. After this correction is over and the high is broken, we will see whether we can go short. We never do dead longs or dead shorts. Since gold has chosen to break upwards in the shock, we still need to follow up and go long. Gold broke through and oscillated upwards during the day. The reasons are risk aversion and technical breakthrough. For the overall decline, it is still rising. The 1-hour moving average of gold now begins to diverge upward. After the gold retracement is confirmed, the bulls continue to exert their strength. After gold retraced to the support near 3033, it began to soar straight up. The bulls still control the home court. At present, the top-bottom conversion level is here at 3033, so the fall back to 3033-35 will continue. Overall, the short-term gold operation idea is to focus on callbacks and shorts, supplemented by shorts on rebounds. The upper short-term focus is on the 3070-3080 first-line resistance, and the lower short-term focus is on the 3040-3030 first-line support.
