✅This week it was confirmed that the weekly head-and-shoulders top pattern has been completed, and the theoretical target has hit the integer mark of $3,000 per ounce. The weekly line closed with a high spindle positive line, indicating that the long-short game has intensified, but the closing price still stood on the 5-week moving average (currently 2992), indicating that the medium-term bullish momentum has not been completely exhausted.
✅After hitting a record high of 3048, the gold price closed at a high propeller negative line for two consecutive days. It is necessary to be vigilant about the formation of the "big positive front resistance line" change pattern. If the high of Thursday 3037 cannot be effectively broken through at the beginning of next week, the daily level top pattern structure will be established.
✅The deviation rate between the current price and the 5-day moving average (3021) has been repaired to 1.2%, and the 10-day dynamic support has moved up to 2985, which forms a technical resonance with the Fibonacci 38.2% retracement level (2988). In the 1-hour chart, EMA5 crosses below EMA21 to form an initial short position, and the 3036-3040 area forms a short-term downward trend line suppression. After effectively falling below the 3000 integer mark, pay attention to the support range of 2985-2972 (the daily Bollinger middle rail + the weekly head and shoulders top pattern extension target position), and the break can be seen to the 2950 neckline.
✅Intraday Trading strategy:
🔶GOLD SELL: 3030-3033
🔰TP1: 3015
🔰TP2: 3005
🔰TP3: 3000 OPEN~
🔶GOLD BUY: 2998-3000
🔰TP1: 3010
🔰TP2: 3015
🔰TP3: 3020 OPEN~
🔹Trading strategies are time-sensitive. We will provide members with real-time and accurate trading strategies based on market changes. Stay tuned🤝
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✅Intraday Trading strategy:🔶GOLD SELL: 3026-3028
🔰TP1: 3015
🔰TP2: 3005
🔰TP3: 3000 OPEN~
🔶GOLD BUY: 2998-3000
🔰TP1: 3010
🔰TP2: 3015
🔰TP3: 3020 OPEN~
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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.