Gold has made a perfect V - shaped reversal today. It opened at 3,177 and declined unilaterally in the Asian session, once dropping to around 3,120, reaching a new low since April 10. Then it gradually climbed all the way, and has now completely recovered the decline, with a rising trend.👉👉👉
On Friday, we continue to anticipate a bullish daily close for gold. However, if the pullback falls below 3,200, the daily cycle may narrow again, leading to a sustained rebound to 3,235 and 3,260. Therefore, the key point is to monitor whether the price holds above or breaks below 3,200.
For short-term trading of gold, the recommended strategy is to focus on going long during pullbacks and supplement with shorting during rebounds.
Short-term key resistance to watch above: 3250-3260 level
Short-term key support to focus on below: 3190-3200 level
XAUUSD trading strategy
buy @ 3210-3215
sl 3195
tp 3230-3240
If you think the analysis helpful, you can give a thumbs-up to show your support. If you have different opinions, you can leave your thoughts in the comments. Thank you for reading!👉👉👉
On Friday, we continue to anticipate a bullish daily close for gold. However, if the pullback falls below 3,200, the daily cycle may narrow again, leading to a sustained rebound to 3,235 and 3,260. Therefore, the key point is to monitor whether the price holds above or breaks below 3,200.
For short-term trading of gold, the recommended strategy is to focus on going long during pullbacks and supplement with shorting during rebounds.
Short-term key resistance to watch above: 3250-3260 level
Short-term key support to focus on below: 3190-3200 level
XAUUSD trading strategy
buy @ 3210-3215
sl 3195
tp 3230-3240
If you think the analysis helpful, you can give a thumbs-up to show your support. If you have different opinions, you can leave your thoughts in the comments. Thank you for reading!👉👉👉
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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.
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.