Gold Spot / U.S. DollarUpdated Gold Trading Strategies, March 5
đź“ŠGold broke through the 2900 mark this week and stabilized above it. The daily closing pattern effectively broke through the previous 2920 pressure, forming a classic V-shaped reversal structure. This pattern indicates that the phased adjustment started from 2955 has ended with a high probability, and the medium-term bullish pattern has been re-established.
đź“ŠThe daily level confirmed that 2832 is the starting point for a new round of rise, and the weekly and monthly levels maintain a long-term rising channel. Even if there is a short-term high-level shock consolidation, it is expected to exchange chips by exchanging time for space, accumulating momentum for subsequent breakthroughs. Geopolitical uncertainty strengthens the safe-haven attribute of gold, and the risk of deep correction will be limited.
đź”´Upper resistance level:
-First: 2927-2930
-Second: 2940-2950
🟢Lower support level:
-First: 2900-2902
-Second: 2895-2888
âś…Intraday trading strategy:
🔶Long strategy:
đź”°Aggressive: 2905-2902 area light position try long, stop loss 2893, target 2918-2930 (profit and loss ratio 1:3)
đź”°Conservative: 2895-2898 area batch layout, stop loss 2888, target 2915-2930
🔶Short strategy:
đź”° First touch 2938-2942 area short, stop loss 2953, target 2920-2908 (first test only)
đź”°If 2927 is not broken before the US market, light position short at 2922-2925, stop loss 2932, target 2905
âś…Gold technical aspects have completed the restructuring of the adjustment structure, and the main logic of buying on dips is maintained in the medium term. Focus on the breakthrough direction of the 2900-2930 range during the day. It is recommended to adopt the combination strategy of "pyramid-style position building after retracement + key position reverse" and strictly control risks to cope with high-level shocks.
âś…Trading strategies are time-sensitive. We will adjust trading strategies in real time according to market changes. Please pay attention.
Trade active
🔥As expected in our morning analysis, today's gold market has reached the support level below 2895, and has now rebounded to the resistance level of 2930. Once it breaks through and stabilizes at 2930, the bulls will hit around 2940-2950.
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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.