Today's gold trading idea
Yesterday, gold prices edged higher to $2036 in the Asian session and then fell rapidly to around $2017. After gaining support, gold prices rebounded to around $2025 and finally closed with a small bull candle, which also ended the 2 consecutive declines. The market began to stabilize. Investors who want to go short need to be cautious and should not chase the market to sell low. Instead, they should go short with small positions after a rebound. At the daily level, as the MACD formed a death cross at a high level, the retreat is still not over. However, a golden cross is likely to show in the 4-hour chart. If gold can rebound to around $2052 and form a local head and shoulders top pattern, perhaps the daily pullback will be smoother. The upper edge of volatility range should be higher today. The resistance is near $2041, with further resistance at the shoulder position of $2052. Today's reference trading range is $2017-$2041, and aggressive traders can buy low and sell high in the range.
❌❌❌: Close all orders when there is news.
XAUUSD XAUUSD SELL 2038 - 2040
✔️TP1: 2033
✔️TP2: 2028
🛑SL: 2045
❌❌❌: Close all orders when there is news.
XAUUSD XAUUSD SELL 2038 - 2040 ✔️TP1: 2033
✔️TP2: 2028
🛑SL: 2045
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