Gold has recently seen a strong bullish rise, and the price has hit a new high. In the Asian session, gold retreated to the 3085 line and then rebounded and continued to rise. The current price is 3112.
In the 4-hour view, gold continued to rise to the 2830 line, breaking through after the previous two adjustments. This is also the third breakout and rising pattern. The price bullish trend is stable. The price is high, so we don’t blindly short at high levels, but we can’t aggressively chase more. In terms of operation, we still maintain the idea of low longs and high shorts as a supplement.
From the current trend of gold, the support below is 3085-3080. Don’t guess the top if the current trend above has not formed stagflation.
In terms of operation ideas, it is recommended to arrange long orders in the 3080-3085 area of gold, with a stop loss of 3070. The upward target is 3100 and 3120.
In the 4-hour view, gold continued to rise to the 2830 line, breaking through after the previous two adjustments. This is also the third breakout and rising pattern. The price bullish trend is stable. The price is high, so we don’t blindly short at high levels, but we can’t aggressively chase more. In terms of operation, we still maintain the idea of low longs and high shorts as a supplement.
From the current trend of gold, the support below is 3085-3080. Don’t guess the top if the current trend above has not formed stagflation.
In terms of operation ideas, it is recommended to arrange long orders in the 3080-3085 area of gold, with a stop loss of 3070. The upward target is 3100 and 3120.
Trade active
Gold fell into a short-term adjustment during the European session.The short-term resistance is suppressed by the high point of 3127 above.
The support is 3115 below. If this position is broken, the short-term test will be 3106, and the short-term high will adjust the low point.
The 5-minute level has diverged from the rise many times, and the 15-minute level has also formed signs of stagflation with the movement of prices.
You can try short-selling in the short term!
Trade closed: target reached
Gold prices fell and rebounded in the US session, forming a small V-shaped reversal trend. The price rose to 3127 after reaching 3100, and then fell again. It is now testing the first support area of 3112-3106 below. If this position falls back and falls below, gold will fall into a high-level adjustment trend at night.If this pattern continues until tomorrow's Asian session, gold will fall into a high-level stagflation stage.
Those who want to go long at a low level in the future, wait for a deep correction, or there will be an opportunity to enter the market.
The area around 3070 should also be paid attention to below, which is also the short-term dividing point between long and short positions.
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.
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.