The trend has not changed, continue to short

25 set

After yesterday's high-level fluctuations, gold prices retreated significantly in the US market due to news, hitting a low near 3717.

Yesterday's daily gold price closed in the red, with the MA5 moving average near 3735. If today's daily closing price falls below the MA5 and reaches the MA10, bears will regain control of the market. Looking at the 4-hour Bollinger Bands, after breaking below the middle line, the price has fluctuated, briefly stabilizing near 3735. Currently, it is consolidating sideways, but if the European/US session breaks below 3735-3720, further declines to 3710-3700 are possible. The short-term downward trend is still under pressure and the market is in a weak state. Therefore, intraday gold trading is still mainly short selling, with long buying as an auxiliary.


The main pressure range above is 3750-3765. If the rebound touches the upper resistance range without breaking it, you can continue to short gold. The short-term support is at 3735-3720 below. If it falls back but does not break through, you can go long with a light position. Strong support focuses on the previous top and bottom conversion of 3710-3700.

25 set

Trade attivo

As long as you refer to my trading strategy, you can earn nearly 70pips of profit even if the minimum entry price is 48. Pay attention to the initial jobless claims data later. As long as the data has little impact and is still within our range, you can still refer to the trading strategy for trading. Those who are conservative can wait for the data before participating in the transaction.

25 set

Nota

If questioning can help you understand the gap more clearly, then I am happy to let you see the facts. If gold continues to fall and touches around 3720, go long and hold it. Wait for gold to touch around 3708 and increase your position once. The target is around 3735.