https://www.tradingview.com/x/dDFnzDgH/
Last Friday, the US dollar index continued to weaken during the day and fell below the $100 mark, as the Trump administration's repeated changes on the issue of import tariffs shook the market's confidence in the US dollar as a safe haven. Spot gold hit a new high, setting a new record high of $3,245.
After soaring by more than $200 last week and breaking through the 3,200 mark in one fell swoop, the gold price opened lower on Monday (April 14) and once hit a low of 3,210.
Then gold climbed to a new high again, reaching $3,245, and this wave of gains seemed to have further upward momentum. There are few safe-haven assets left in the market, and gold has become the first choice.
You can look at the daily chart. The daily chart has closed with a positive line for four consecutive trading days, and the daily chart has not shown a peak signal at present.
More importantly, the daily line currently has a five-wave upward trend, and this trend may eventually be around 3280.
The lowest position of the retracement last week was around 2950, which is at the high point of the a wave of the entire wave pattern.
Under the condition that the four-wave retracement does not break the top of the first wave, the current rise is the continuation of the fifth wave.
Secondly, you can also look at the 4-hour chart:
The most critical position of the 4-hour chart is around 3220, which is the support position of the ma10 moving average of the current 4-hour chart.
That is to say, as long as the 4-hour chart closes above 3220, then gold will definitely maintain an upward trend.
On the contrary, if the 4-hour closing line is below 3220, then there is no guarantee that there will be a possibility of a deep retracement today.
The bottom K-line of the previous 4-hour chart will close at 18:00, which means that as long as the closing line at 18:00 is above 3220, then everyone can go long.
The first target is to look at the high point of 3245, and the second is around 3280.
If the 4-hour closing line at 18:00 is below 3220, then everyone should be cautious about going long and be careful that there will be further corrections.
If you like my analysis, please follow me
Last Friday, the US dollar index continued to weaken during the day and fell below the $100 mark, as the Trump administration's repeated changes on the issue of import tariffs shook the market's confidence in the US dollar as a safe haven. Spot gold hit a new high, setting a new record high of $3,245.
After soaring by more than $200 last week and breaking through the 3,200 mark in one fell swoop, the gold price opened lower on Monday (April 14) and once hit a low of 3,210.
Then gold climbed to a new high again, reaching $3,245, and this wave of gains seemed to have further upward momentum. There are few safe-haven assets left in the market, and gold has become the first choice.
You can look at the daily chart. The daily chart has closed with a positive line for four consecutive trading days, and the daily chart has not shown a peak signal at present.
More importantly, the daily line currently has a five-wave upward trend, and this trend may eventually be around 3280.
The lowest position of the retracement last week was around 2950, which is at the high point of the a wave of the entire wave pattern.
Under the condition that the four-wave retracement does not break the top of the first wave, the current rise is the continuation of the fifth wave.
Secondly, you can also look at the 4-hour chart:
The most critical position of the 4-hour chart is around 3220, which is the support position of the ma10 moving average of the current 4-hour chart.
That is to say, as long as the 4-hour chart closes above 3220, then gold will definitely maintain an upward trend.
On the contrary, if the 4-hour closing line is below 3220, then there is no guarantee that there will be a possibility of a deep retracement today.
The bottom K-line of the previous 4-hour chart will close at 18:00, which means that as long as the closing line at 18:00 is above 3220, then everyone can go long.
The first target is to look at the high point of 3245, and the second is around 3280.
If the 4-hour closing line at 18:00 is below 3220, then everyone should be cautious about going long and be careful that there will be further corrections.
If you like my analysis, please follow me
Trade active
After the adjustment, gold began to fall, and the general bullish trend remained unchangedTrade closed: target reached
Gold has already started to rise, we just need to wait for earnings
Our goal is simple, to provide the most professional guidance for free to help everyone make a profit
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.
Our goal is simple, to provide the most professional guidance for free to help everyone make a profit
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.