Regarding the trend of XAUUSD (gold against the US dollar), it is completely in line with my expectations yesterday. The current price has reached the watershed of 3345. If it breaks through, continue to be bullish. If it does not break through. Then wait for the market to fall.
### Key analysis points
1. Confirmation of resistance breakthrough
- The importance of the 3345 level: If this position is a resistance that has been tested many times recently (such as previous highs, Fibonacci retracement levels or trend line suppression), it may trigger short-covering or new buying after the breakthrough, pushing the price further up.
- Verify the effectiveness of the breakthrough: It is necessary to observe the momentum at the time of the breakthrough (such as accompanied by a large positive line, increased trading volume) and whether the closing price can stand above 3345 to avoid false breakthroughs.
2. Upward target
- First target: If the breakthrough is established, the next resistance may look at the 3360-3380 area (previous high or extended Fibonacci level).
- Medium-term potential: If the trend reversal is confirmed, it may even challenge the 3400 psychological level.
3. Pullback risk management
- Support level: If it fails to break through 3345 or falls back after a false breakout, you need to pay attention to the support below (such as 3320-3300), which is the short-term long-short watershed.
- Stop loss reference: The stop loss of long positions can be set below 3300 to protect the safety of funds.
Trading strategy suggestions
- Aggressive strategy (breakthrough trading):
- Entry: Go long when the price breaks through 3345 and then confirms the pullback.
- Stop loss: Below 3320 (adjusted according to volatility).
- Take profit: Close orders in batches (3360, 3380).
- Conservative strategy (retracement trading):
- Wait for the pullback to the 3320-3300 support area to stabilize and then go long, stop loss 3280.
- The target is the same as the breakthrough strategy.
- Short warning:
If the 3345 resistance continues to suppress and a bearish pattern appears, consider shorting with a stop loss above 3360.
Variables to be added
1. Time frame: Is the above analysis based on the daily or 4-hour chart? Short-term trading requires a smaller cycle to confirm the signal.
2. Driving factors: Pay attention to the Fed's policy expectations, the US dollar index, the geopolitical situation, etc., which may suddenly change the technical pattern.
Summary
Whether the current rebound can continue depends on the effectiveness of the breakthrough of 3345. If successful, it can be bullish, but a strict stop loss is required.
If you need a more detailed entry point analysis or position management plan, please feel free to let me know your trading cycle and risk preference, and I will provide you with a customized strategy.
### Key analysis points
1. Confirmation of resistance breakthrough
- The importance of the 3345 level: If this position is a resistance that has been tested many times recently (such as previous highs, Fibonacci retracement levels or trend line suppression), it may trigger short-covering or new buying after the breakthrough, pushing the price further up.
- Verify the effectiveness of the breakthrough: It is necessary to observe the momentum at the time of the breakthrough (such as accompanied by a large positive line, increased trading volume) and whether the closing price can stand above 3345 to avoid false breakthroughs.
2. Upward target
- First target: If the breakthrough is established, the next resistance may look at the 3360-3380 area (previous high or extended Fibonacci level).
- Medium-term potential: If the trend reversal is confirmed, it may even challenge the 3400 psychological level.
3. Pullback risk management
- Support level: If it fails to break through 3345 or falls back after a false breakout, you need to pay attention to the support below (such as 3320-3300), which is the short-term long-short watershed.
- Stop loss reference: The stop loss of long positions can be set below 3300 to protect the safety of funds.
Trading strategy suggestions
- Aggressive strategy (breakthrough trading):
- Entry: Go long when the price breaks through 3345 and then confirms the pullback.
- Stop loss: Below 3320 (adjusted according to volatility).
- Take profit: Close orders in batches (3360, 3380).
- Conservative strategy (retracement trading):
- Wait for the pullback to the 3320-3300 support area to stabilize and then go long, stop loss 3280.
- The target is the same as the breakthrough strategy.
- Short warning:
If the 3345 resistance continues to suppress and a bearish pattern appears, consider shorting with a stop loss above 3360.
Variables to be added
1. Time frame: Is the above analysis based on the daily or 4-hour chart? Short-term trading requires a smaller cycle to confirm the signal.
2. Driving factors: Pay attention to the Fed's policy expectations, the US dollar index, the geopolitical situation, etc., which may suddenly change the technical pattern.
Summary
Whether the current rebound can continue depends on the effectiveness of the breakthrough of 3345. If successful, it can be bullish, but a strict stop loss is required.
If you need a more detailed entry point analysis or position management plan, please feel free to let me know your trading cycle and risk preference, and I will provide you with a customized strategy.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.