The gold market fluctuated violently today, with the price retreating as low as 3076, then rising strongly, breaking through the previous high again, and so far, it has soared to the surprising point of 3127. As of now, it has soared to the surprising point of 3127. Such a violent market opened this week, which put investors in a dilemma: should they aggressively chase the rise or go short against the trend?
From the daily level, the gold price has closed positive for three consecutive days, and the bullish trend is extremely significant. Today, the bulls have exerted their strength to push the point steadily above 3100. According to the current trend, there is still room for further rise in theory; on the contrary, if it cannot effectively stand at this position, the trend may face a reversal.
Switching to the hourly perspective, the low point formed by the previous retracement has become a key watershed for the strength of today's market. If the price retreats for the second time and falls below this low point, the current strong upward trend will most likely weaken; but if the price continues to rise without any signs of retreat, investors will face the dilemma of difficult choice of entry point. If the entry position is too aggressive, the stop loss will be triggered easily when the market fluctuates greatly; if it is set too conservatively, the price may not reach the preset point at all.
At present, the factors affecting the rise and fall of gold prices are complex and diverse. The global economic situation, geopolitical situation, monetary policies of various countries, and many other variables are intertwined, making the future trend of gold full of uncertainty and difficult to accurately predict. It has to be said that the gold market has always been specialized in "chasing up and killing down" investment behavior. Risk control is undoubtedly the core issue that investors need to focus on at this time.
Based on the above analysis, the following operational suggestions are given: When the gold price falls back to the 3090-3100 range, you can consider going long, with the stop loss set at 3085 and the target price looking at 3120-30). As for the upper resistance level, given the complexity of the current market, no prediction is made for the time being.
XAUUSD GOLD XAUUSD
From the daily level, the gold price has closed positive for three consecutive days, and the bullish trend is extremely significant. Today, the bulls have exerted their strength to push the point steadily above 3100. According to the current trend, there is still room for further rise in theory; on the contrary, if it cannot effectively stand at this position, the trend may face a reversal.
Switching to the hourly perspective, the low point formed by the previous retracement has become a key watershed for the strength of today's market. If the price retreats for the second time and falls below this low point, the current strong upward trend will most likely weaken; but if the price continues to rise without any signs of retreat, investors will face the dilemma of difficult choice of entry point. If the entry position is too aggressive, the stop loss will be triggered easily when the market fluctuates greatly; if it is set too conservatively, the price may not reach the preset point at all.
At present, the factors affecting the rise and fall of gold prices are complex and diverse. The global economic situation, geopolitical situation, monetary policies of various countries, and many other variables are intertwined, making the future trend of gold full of uncertainty and difficult to accurately predict. It has to be said that the gold market has always been specialized in "chasing up and killing down" investment behavior. Risk control is undoubtedly the core issue that investors need to focus on at this time.
Based on the above analysis, the following operational suggestions are given: When the gold price falls back to the 3090-3100 range, you can consider going long, with the stop loss set at 3085 and the target price looking at 3120-30). As for the upper resistance level, given the complexity of the current market, no prediction is made for the time being.
XAUUSD GOLD XAUUSD 
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Continuously release precise trading plans to lead members to expand profits, with a stable profit of 988% every month. If you have not made a profit yet, then join us. t.me/fahsufnwks
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.