Gold Continues To Be Mainly Short

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In the last trading day, gold rebounded after a slight decline, and a small hammer line was formed on the daily chart, showing a short-term bull-bear tug-of-war situation. At present, gold is still in a narrow range of high fluctuations, but the short-term moving average begins to diverge downward, indicating that the market has signs of moving out of the high fluctuation range and further downward.

Yesterday's price trend was in line with expectations. It fell under pressure from the 2506 line and quickly dropped from the middle track to the lower track. We gave a direct short position at the 2502 line yesterday, looking down to the 2485-2475 area, and made a profit of nearly $20. The market released short momentum at the high level at the beginning of the week, forming a three-day negative arrangement, showing obvious downward pressure. Although there was a rebound after the sharp drop, we believe that the rebound is an opportunity to short, so we directly arranged a short position near 2495 in the early trading today.

On the 4-hour chart, gold has gradually fluctuated and fallen from 2530 to around 2470. The current price rhythm shows that the downward momentum has not been fully released. Although the price has converged in the short term, it is still in a downward step mode in structure. If 2470 is lost, the adjustment space may be further deepened. The 1-hour chart shows that after continuous fluctuations, the technical pattern has gradually weakened, and the short-term rebound momentum is limited. Unless it breaks through 2500, it will still be mainly weak and fall.

On the whole, today's operation strategy is still mainly to short on rebound, supplemented by long on pullback. Pay attention to the resistance range of 2496-2500 on the top, and the support range of 2473-2470 on the bottom. XAUUSD

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Gold Trading Strategies Reference

🎯Strategy 1: Go Sell when gold rebounds to around2495-2498, stop loss 6 points, target around 2485-2475, break the position and look at the 2470 line✅

🎯Strategy 2: Go Buy when gold pulls back to around 2470-2473 , stop loss 6 points, target around 2480-2485, and look at the 2490 line if the position is broken✅

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🔥Perfect Done Hit 🎯strategy 1 and 🎯Strategy 2

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Gold Trading Strategies, September 5

🎯Strategy 1: Go Sell 2500-2502, SL 6-10 points, TP 2485-2475, break the position and look at the 2470 line✅

🎯Strategy 2: Go Buy 2470-2473 , SL 6-10 points, TP 2480-2485, and look at the 2490 line if the position is broken✅