Firmly bearish on gold, targeting $4,000 and below.

l’altro ieri

Last week, gold experienced a breathtaking rollercoaster ride. At the start of trading last Monday, gold prices surged and held firm above the psychological level of $4,000. Bulls, like galloping horses, launched a new and fierce offensive, once aiming for the historical high set last month, reaching a peak of around $4,245. The market seemed to be ignited with the flames of a raging bull market. However, the situation suddenly changed. A series of hawkish signals from Federal Reserve officials, their words like thunderclaps, shook the market, and sentiment cooled abruptly. Gold prices plummeted, erasing all previous gains, and ultimately closed around $4,085, leaving a trail of disappointment.

The gold market has been caught in a period of intense volatility due to the uncertainty surrounding Federal Reserve policies and a lack of US economic data, leaving both bulls and bears relentlessly battered. Such extreme two-way fluctuations are nothing short of a brutal baptism for traders, especially those investors who are accustomed to blindly buying at the bottom and ignoring stop-loss discipline, who suffer heavy losses. Here I solemnly remind you: when the market is turbulent and the direction is unclear, do not rush into the market. It is better to observe the situation calmly, watch more and act less, and always face every breath and pulse of the market with a sense of awe. Regarding trading strategies!

Regarding trading strategy:

I plan to place short orders in batches within the 4095-4125 range, waiting for the gold price to weaken during any rebound. The key support level to watch is the 4070-4080 area. If this level is breached, gold may begin a new downward trend, heading towards a deeper technical correction.

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Trade attivo

Gold prices rebounded to around 4090 before falling again under pressure. Relatively speaking, today's market volatility was small, and the one-hour Bollinger Bands are also in a narrowing state, indicating that the short-term trend of gold will choose a new direction. At present, the bears are in control, and short positions can continue to be considered.

l’altro ieri

Trade chiuso: obiettivo raggiunto

Gold prices moved calmly today, like still waters running deep, unusually quiet compared to previous days. This seemingly uneventful consolidation is like the calm before a storm, concealing turbulent undercurrents. If gold prices continue to be pressured below 4080, the downward channel may reopen; once it breaks down, $4000 may become a stopover point on the downward journey, rather than the final destination.