🔥GOLD RETURNS TO BULLISH TREND✅✅
Updated
Yesterday's gold market trend was highly consistent with our expectations. We emphasize the changes in the rhythm of long and short, and believe that there is the possibility of an increase after the decline. According to the current trend, gold may remain volatile and strong today and may continue to rise. Although the market has changed significantly recently, I always believe that the bullish trend of gold has not changed until it fails to effectively break through 2250.
From a technical point of view, the daily line closed a negative K line on Tuesday, and the current price is near the middle track of the Bollinger Bands. According to trend strength analysis, gold may take this opportunity to rebound and close higher, rising further to the moving average suppression point near 2354-2360.
On the 4-hour period, gold’s upward trend may continue to near the Bollinger Band 2350. Therefore, the key to trading today is to find the right entry point for long orders. Judging from the market price at midnight on Tuesday, gold fell back to 2315 after rising to around 2331, where it was supported and continued to rise. This price happens to be near the middle track of the Bollinger Bands in the hourly cycle. As a key point of relative cycle strength, the price of gold hit a low of 2291 yesterday. I personally believe that this level is expected to become a periodic retracement low.
That is to say, the next downward trend will not fall below this level. The upward extension support is at the 2300 mark, further support is at 2314, and the initial resistance above is at 2350. If it breaks through and stands firm, then there is a high probability that it will reach $2,400.
On the whole, today's short-term gold operation advice is to focus on longs on callbacks, supplemented by shorts on rebounds. The top focuses on the 2335-2350 resistance range, and the bottom focuses on the 2308-2300 support range.
From a technical point of view, the daily line closed a negative K line on Tuesday, and the current price is near the middle track of the Bollinger Bands. According to trend strength analysis, gold may take this opportunity to rebound and close higher, rising further to the moving average suppression point near 2354-2360.
On the 4-hour period, gold’s upward trend may continue to near the Bollinger Band 2350. Therefore, the key to trading today is to find the right entry point for long orders. Judging from the market price at midnight on Tuesday, gold fell back to 2315 after rising to around 2331, where it was supported and continued to rise. This price happens to be near the middle track of the Bollinger Bands in the hourly cycle. As a key point of relative cycle strength, the price of gold hit a low of 2291 yesterday. I personally believe that this level is expected to become a periodic retracement low.
That is to say, the next downward trend will not fall below this level. The upward extension support is at the 2300 mark, further support is at 2314, and the initial resistance above is at 2350. If it breaks through and stands firm, then there is a high probability that it will reach $2,400.
On the whole, today's short-term gold operation advice is to focus on longs on callbacks, supplemented by shorts on rebounds. The top focuses on the 2335-2350 resistance range, and the bottom focuses on the 2308-2300 support range.
Note
Gold Trading Strategies ReferenceStrategy 1: Go short when gold rebounds to around 2335-2338, stop loss 6 points, target around 2325-2315, break the position and look at the 2310 line
Strategy 2: Go long when gold pulls back to around 2310-2314, stop loss by 6 points, target around 2325-2335, and look at the 2350 line if the position is broken
Market trends may undergo major changes at any time. Investors, please place orders with caution and manage account funds and positions reasonably.
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I have already said in the trading strategy that you can do long orders near 2310-2314. Have you caught the profits?
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🚀GOLD SELL @ 2335-2338 ⛔️SL 2342
🎯TP 2325
Note
Gold Trading Strategies Reference
🎯Strategy 1: Go short when gold rebounds to around 2335-2338, stop loss 6 points, target around 2325-2315, break the position and look at the 2310 line✅
🎯Strategy 2: Go long when gold pulls back to around 2310-2314, stop loss by 6 points, target around 2325-2335, and look at the 2350 line if the position is broken✅
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Note
📊SUMMARY SIGNAL GOLD TODAY (April 24, 2024)🎯Sell Gold: 2327-2330
SL 2335 TP 2314+140pips✅
🎯Sell Gold: 2335-2338
SL 2342 TP 2325 +100pips✅
🎯Buy Gold: 2312-2315
SL 2308 TP 2325 +110pips✅
💟3signals: 3win
💟Total profit: +350PIPS
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