10.6 Gold falls back and continues to go long

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Gold prices are currently moving out of a narrow range of highs on the daily chart. The K-line chart continues to maintain a relatively stable upward trend along the short-term moving average. Watch for any pullbacks on the daily chart to confirm a secondary upward trend. Focus on the support zone around 3900 in the short term. On the 4-hour chart, the price broke through the previous resistance zone, and the short-term moving average began to diverge upward, indicating a relatively strong short-term trend. On the hourly chart, the intraday pullbacks were neither strong nor prolonged, and the K-line chart continues to maintain a relatively strong trend along the short-term moving average. Some divergence is showing on the short-term chart, so watch for short-term adjustments.

Trading Strategy:

BUY: 3910 TP1:3925 TP2:3940
SELL: 3940 TP1:3910 TP2:3900

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Trade attivo

Traders, if you like this idea or you have your own opinion on it, please write it in the comments. I will be happy to

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Trade chiuso: obiettivo raggiunto

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Nota

This is in perfect agreement with our analysis. Gold started to decline after reaching 3940. Currently it is at 30, with a profit of 10 points.

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Nota

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Nota

Short-term target has been completed, profit point 20