Gold can be said to have fluctuated in a large range today, but the overall trend is more towards the short side. Although gold rose at the opening on Monday, it suddenly made a 360-degree turn at the 3250 line, which made those who were chasing the long position suddenly confused. We went short directly at the 3244 line and also went short near 3247 in the afternoon, and all of them made perfect profits. We have also analyzed gold. The pressure from above is relatively large, and the space above is relatively limited. On the contrary, the space below is relatively large, and rebound shorting is still the current short-term trend!
From the analysis of the 4-hour line, the support below continues to focus on the vicinity of 3170-75, the strong support is at the 3150 mark, and the pressure above is around 3253-60. The overall support range is to maintain the main tone of high-altitude low-multiple cycle participation. In the middle position, watch more and do less, and follow orders cautiously, and wait patiently for key points to enter the market.
Gold operation strategy:
1. Gold rebounds to 3243-50 line short, rebounds to 3255-60 line to cover short, stop loss 3266, target 3205-10 line, continue to hold if broken;
2. Gold falls back to 3170-75 line without breaking light position long, falls back to 3150-55 line to cover long, stop loss 3144, target 3226-3230 line, continue to hold if broken
From the analysis of the 4-hour line, the support below continues to focus on the vicinity of 3170-75, the strong support is at the 3150 mark, and the pressure above is around 3253-60. The overall support range is to maintain the main tone of high-altitude low-multiple cycle participation. In the middle position, watch more and do less, and follow orders cautiously, and wait patiently for key points to enter the market.
Gold operation strategy:
1. Gold rebounds to 3243-50 line short, rebounds to 3255-60 line to cover short, stop loss 3266, target 3205-10 line, continue to hold if broken;
2. Gold falls back to 3170-75 line without breaking light position long, falls back to 3150-55 line to cover long, stop loss 3144, target 3226-3230 line, continue to hold if broken
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Gold bull trend has been determined? Don't guess the top! Trend trading is the core. If you need help, you can contact me and I will help you.
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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.