At present, the long and short views in the gold market are significantly different, and the effectiveness of technical positions has been verified. The 3180 point has not shown an effective support role in the recent downward process. Its logic as a potential pressure point lacks price behavior verification, and we need to be vigilant against the risk of misjudgment caused by subjective preset technical positions. As for the short strategy at 3200 points, if 3230 is used as the stop loss, the risk exposure of more than 30 US dollars is disproportionate to the current volatility range, and the profit and loss ratio needs to be strictly evaluated in actual transactions. In the current market environment, the price has not yet shown a clear bottom signal. The operational level should focus on optimizing the risk-return ratio and avoid excessive gambling on short-term fluctuations during the trend continuation stage. It is recommended to wait patiently for clearer technical signals or fundamental drivers to intervene.
Gold continued its decline last week, refreshing a new low in a month, but the gold price bottomed out and rebounded during the day, indicating that there is strong bargain hunting below. Gold's support below, from the 30-minute analysis, the upper short-term resistance is around 3180-3185, with a focus on the 3200-3210 line. The pullback will rely on this position to continue the main short trend and look down. The short-term long and short strength watershed is 3235-3240. Before the daily level breaks through and stands on this position, any pullback is a short-selling opportunity.
Operation strategy:
1. It is recommended to short gold when it rebounds to 3180-3185, with a stop loss at 3193, and the target is 3170-3160, and the break is 3160-3130
Gold continued its decline last week, refreshing a new low in a month, but the gold price bottomed out and rebounded during the day, indicating that there is strong bargain hunting below. Gold's support below, from the 30-minute analysis, the upper short-term resistance is around 3180-3185, with a focus on the 3200-3210 line. The pullback will rely on this position to continue the main short trend and look down. The short-term long and short strength watershed is 3235-3240. Before the daily level breaks through and stands on this position, any pullback is a short-selling opportunity.
Operation strategy:
1. It is recommended to short gold when it rebounds to 3180-3185, with a stop loss at 3193, and the target is 3170-3160, and the break is 3160-3130
Trade active
Gold falls back to 3210-3215 line, light position long, fall back to 3200-05 line, add position long, stop loss 3293, target 3236-40 line, please contact me if you need help
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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.