On Monday, gold surged higher and fell back as scheduled, indicating that there was obvious pressure above, and after Friday's close to the positive line, the momentum did not continue on Monday, indicating that the long and short began to oscillate in the region, waiting for non-farm payrolls guidance.This week's focus is on the news of Federal Reserve Chairman Powell and Friday's non-farm payrolls. It was difficult to get out of the larger market before this, mainly due to range fluctuations.
https://www.tradingview.com/x/UmbsbBpn/
From a technical point of view, at the daily level, the continuity of the upward momentum is not strong. Although it fell back on Monday, it can be seen here as a technical second rebound test to prove the effectiveness of the breakthrough and the role of consolidating the bottom support, because 1835 is the strength of the rebound defense, as long as it is above this position, the rebound market has not yet declared the end; and technically, it is also necessary to build a sub-apex before the end of this round of rebound market can be declared, so before the sub-apex is constructed and confirmed, the second round of rebound market cannot be regarded as the end.
https://www.tradingview.com/x/fg9FLdVH/
The 4-hour chart is currently in a short-term structure, but it is still stuck above the middle Bollinger Band, and there is another 30-day moving average support below. The 1840-1385 area still plays a strong supporting role for gold prices, so even if it falls slowly at the short-term level, it will not break the level all at once, and the situation at the short-term level will still run in the range of 1835-1860.
Therefore, in terms of operation, the operation ideas of small batches, high throwing and low suction can be tried in the range of 1835-1860.
In order to facilitate you to continue to follow up on my analysis and sharing, you can like and follow me. In addition, you can enter my channel for free in the following ways to follow real-time views and operational strategies.
https://www.tradingview.com/x/UmbsbBpn/
From a technical point of view, at the daily level, the continuity of the upward momentum is not strong. Although it fell back on Monday, it can be seen here as a technical second rebound test to prove the effectiveness of the breakthrough and the role of consolidating the bottom support, because 1835 is the strength of the rebound defense, as long as it is above this position, the rebound market has not yet declared the end; and technically, it is also necessary to build a sub-apex before the end of this round of rebound market can be declared, so before the sub-apex is constructed and confirmed, the second round of rebound market cannot be regarded as the end.
https://www.tradingview.com/x/fg9FLdVH/
The 4-hour chart is currently in a short-term structure, but it is still stuck above the middle Bollinger Band, and there is another 30-day moving average support below. The 1840-1385 area still plays a strong supporting role for gold prices, so even if it falls slowly at the short-term level, it will not break the level all at once, and the situation at the short-term level will still run in the range of 1835-1860.
Therefore, in terms of operation, the operation ideas of small batches, high throwing and low suction can be tried in the range of 1835-1860.
In order to facilitate you to continue to follow up on my analysis and sharing, you can like and follow me. In addition, you can enter my channel for free in the following ways to follow real-time views and operational strategies.
Note
Before the non-farm payrolls data, the market will appear cautious, and the market volatility may be relatively small. Follow the idea of range volatility to do high selling and low suction operations, with good take profit and stop lossTrade active
1840 first line, try to go long in small batchesTrade active
1842-1840 go long
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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.