The most accurate gold trading strategy
Technical analysis of gold: At present, the current round of gold decline has not ended. It is just that the decline from the historical high to today's early trading has reached nearly 150 US dollars. In the short term, it takes time to change the short rebound correction. After the correction is completed, the decline will start again. Yesterday, the international gold price fell from 2749 to around 2650, and the intraday decline reached 100 US dollars, which perfectly replicated the market situation in the last election in 2020. If this pattern can continue, theoretically, after the next two days of rebound, there will be at least 100 US dollars of room for decline.
Judging from the structure after the closing, the daily adjustment has continued, and it has triggered the formation of the evening star pattern on the weekly line. Once the weekly adjustment is also launched, the downward space and time will be extended. In the long run, 1-2 months is possible, and in the short run, it will take at least 3-4 weeks. In terms of space, if the rising band since the 2286 starting point retraces the 38.2% Fibonacci level, it should be around 2600. Below, we still focus on the 2620/2600 area. If 2600 breaks again in the later period, it will continue to fall to the next target of 2530. However, whether 2600 breaks through the 2620/2600 area or not, there will be a big wave of repeated market movements.
Judging from the structure after the closing, the daily adjustment has continued, and it has triggered the formation of the evening star pattern on the weekly line. Once the weekly adjustment is also launched, the downward space and time will be extended. In the long run, 1-2 months is possible, and in the short run, it will take at least 3-4 weeks. In terms of space, if the rising band since the 2286 starting point retraces the 38.2% Fibonacci level, it should be around 2600. Below, we still focus on the 2620/2600 area. If 2600 breaks again in the later period, it will continue to fall to the next target of 2530. However, whether 2600 breaks through the 2620/2600 area or not, there will be a big wave of repeated market movements.
Note
The Fed rate cut news is coming in three hours, so trade with cautionNote
Many people have made money in the market and their lives are getting better and better, but many people have lost everything. If I say that our weekly profits are stable at more than 150%, you may think I am a liar, but I advise you to click on the link to see our trading results. I believe the results are the best proof, and I am also willing to help you because kindness is a good character.Note
Gold fell by nearly $100 yesterday, but quickly rebounded by about $60 today. The market is very unstable and trading needs to be cautious. If your account is stuck, please contact me as soon as possible and I will help you solve your difficulties.
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