https://www.tradingview.com/x/ceIPlOEP/
💡Message Strategy
Economic data to watch
12:00, Lane, an official from the European Central Bank (ECB), will speak
12:00, Barkin, an official from the Federal Reserve (Fed), will speak
📊Technical aspects
Upward resistance: Short-term resistance is close to $3,320, which is the 61.8% Fibonacci retracement level of the downward trend from the high of $3,440 to the low of $3,120; the next major resistance is near $3,350. If it is clearly broken through, it may open up more upside space. The subsequent resistance may point to $3,380. After breaking through, the price may climb to the milestone level of $3,400.
Downward support: Initial support is close to $3,265, the first key support is near $3,220, the next major support is $3,200, and the core support is $3,220. If it falls below the $3,220 support, it may trigger further declines, and the next major support is $3,150.
Combined with the current trend of gold, from the hourly chart, gold has shown a downward retracement channel, and the upper resistance of around $20 has been repeatedly tested and has not been broken. It is not recommended to chase the rise at present.
Combined with the analysis of the downward four channels, the current mainstream trend of gold retreating to a high level and then shorting is
💰 Strategy Package
Short Position：3315-3320，3340-3350
💡Message Strategy
Economic data to watch
12:00, Lane, an official from the European Central Bank (ECB), will speak
12:00, Barkin, an official from the Federal Reserve (Fed), will speak
📊Technical aspects
Upward resistance: Short-term resistance is close to $3,320, which is the 61.8% Fibonacci retracement level of the downward trend from the high of $3,440 to the low of $3,120; the next major resistance is near $3,350. If it is clearly broken through, it may open up more upside space. The subsequent resistance may point to $3,380. After breaking through, the price may climb to the milestone level of $3,400.
Downward support: Initial support is close to $3,265, the first key support is near $3,220, the next major support is $3,200, and the core support is $3,220. If it falls below the $3,220 support, it may trigger further declines, and the next major support is $3,150.
Combined with the current trend of gold, from the hourly chart, gold has shown a downward retracement channel, and the upper resistance of around $20 has been repeatedly tested and has not been broken. It is not recommended to chase the rise at present.
Combined with the analysis of the downward four channels, the current mainstream trend of gold retreating to a high level and then shorting is
💰 Strategy Package
Short Position：3315-3320，3340-3350
Trade active
Gold retracement has reached the target point, enter the market lightlyTrade closed: target reached
The gold correction and decline has reached our first target
Every opening of a position is a dialogue with probability, and every transaction is the realization of cognition.
Related publications
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.
Every opening of a position is a dialogue with probability, and every transaction is the realization of cognition.
Related publications
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.