Attention: XAUUSD is brewing a sharp drop
Updated
Fundamental analysis:
Affected by multiple bank failures, gold rose from 1800 to 2000. With the fading of risk aversion in the midway and the limited interest rate hike by the Federal Reserve, risk aversion reignited and gold experienced a rollercoaster-like rapid rise and fall in the recent period. After the recent explosive news, gold is expected to return to normal track. If there is no stimulation from the news, risk aversion is bound to begin to fade, leading to a decline in gold.
Technical analysis:
From a technical perspective, the 4-hour chart has formed a bearish divergence pattern, which is a clear bearish signal. In addition, the next turning point of Fibonacci time zones is approaching, which further confirms my bearish confidence. At the same time, the current price is oscillating near the key level of 2000 points, and it should be noted that this level has a strong resistance. It has been repeatedly validated that there are signs of falling back after breaking through the 2000 level. Therefore, we can be certain that this is the top position of gold at present.
Trading strategy:
Since the probability of a recent decline is high, we can sell near 2000. In addition, the high point of 2000 provides good defensive security, so we can sell with confidence. The following trading settings are given in combination with the support and resistance of the chart.
Trading settings:
Sell at 1990-2000, TP: 1966, 1937, 1913, 1812, SL: 2020.
GOLDXAUUSDGC1!GOLD1!XAUUSD
Affected by multiple bank failures, gold rose from 1800 to 2000. With the fading of risk aversion in the midway and the limited interest rate hike by the Federal Reserve, risk aversion reignited and gold experienced a rollercoaster-like rapid rise and fall in the recent period. After the recent explosive news, gold is expected to return to normal track. If there is no stimulation from the news, risk aversion is bound to begin to fade, leading to a decline in gold.
Technical analysis:
From a technical perspective, the 4-hour chart has formed a bearish divergence pattern, which is a clear bearish signal. In addition, the next turning point of Fibonacci time zones is approaching, which further confirms my bearish confidence. At the same time, the current price is oscillating near the key level of 2000 points, and it should be noted that this level has a strong resistance. It has been repeatedly validated that there are signs of falling back after breaking through the 2000 level. Therefore, we can be certain that this is the top position of gold at present.
Trading strategy:
Since the probability of a recent decline is high, we can sell near 2000. In addition, the high point of 2000 provides good defensive security, so we can sell with confidence. The following trading settings are given in combination with the support and resistance of the chart.
Trading settings:
Sell at 1990-2000, TP: 1966, 1937, 1913, 1812, SL: 2020.
GOLDXAUUSDGC1!GOLD1!XAUUSDTrade active
Now that gold is falling, you can choose to short a part in 1990Trade active
Trade active
Trade closed: target reached
Trade closed: target reached
Trade closed: target reached
Gold is currently falling to 1959, and successfully reached our first target stop profit level of 2000→1960. Everyone can take a part of the profit, and we will continue to be bearish on the restTrade closed: target reached
Trade active
Gold rebounded before the US market, you can continue to buy short orders around 1958Trade closed: target reached
1958 Short orders began to make profits, all orders continued to be bearishTrade closed: target reached
Trade active
Trade active
XAUUSD: Continue to be bearish, those with short orders continue to hold, those without short orders can sell in the 1966-1967 range, short-term TP: 1963, 1959, 1951Trade closed: target reached
XAUUSD: successfully arrived at the second TP1959, you can make a part of the profit, and the rest continue to wait for the third TP1951
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