Gold opened the week on a positive note without a significant pullback, rebounding quickly after touching a low of 3013. The overall price action remains range-bound with a bullish bias, though gold is still trading within the lower to middle Bollinger Bands. A clearer upside move may emerge once the correction phase concludes.
In the short term, resistance remains at the 3030-3040 zone. If this level holds, short positions can be considered. On the downside, key support levels to watch are 3012 and 3005, with the 3005-3000 range offering a potential buying opportunity.
Trading Strategy:
- Sell near 3030-3040resistance if it remains intact.
- Buy around the 3005-3000 support zone.
- Adopt a range-trading approach, focusing on shorting near resistance and buying near support.
I have always been glad that I can stick to my original intention. I can be dedicated to every friend who proposes cooperation. I will use my professional strength to help you make profits, recover your capital, and increase your funds. My reputation depends entirely on the publicity of customers. My strength has been honed in actual combat for a long time. Even if the road ahead is bumpy, as long as you give us trust, we will do our best to guide you and use your funds to the maximum effective limit, so that you can experience the feeling of profit in the ups and downs of the market! If you don’t know when to enter the market, you can pay attention to my 🌐 signal. I will release specific signals in real time. Remember to pay attention to the 🌐 signal in time.
In the short term, resistance remains at the 3030-3040 zone. If this level holds, short positions can be considered. On the downside, key support levels to watch are 3012 and 3005, with the 3005-3000 range offering a potential buying opportunity.
Trading Strategy:
- Sell near 3030-3040resistance if it remains intact.
- Buy around the 3005-3000 support zone.
- Adopt a range-trading approach, focusing on shorting near resistance and buying near support.
I have always been glad that I can stick to my original intention. I can be dedicated to every friend who proposes cooperation. I will use my professional strength to help you make profits, recover your capital, and increase your funds. My reputation depends entirely on the publicity of customers. My strength has been honed in actual combat for a long time. Even if the road ahead is bumpy, as long as you give us trust, we will do our best to guide you and use your funds to the maximum effective limit, so that you can experience the feeling of profit in the ups and downs of the market! If you don’t know when to enter the market, you can pay attention to my 🌐 signal. I will release specific signals in real time. Remember to pay attention to the 🌐 signal in time.
Trade active
From the 4-hour level, bulls took profits after the gold price rose to the $3,057 line, and the gold price subsequently fell back to the $2,999 line. The current decline is still a correction of the previous rise, and it is expected that the gold price will continue to rise after the correction. After the gold price fell by a large negative line last Friday night, it bottomed out and rebounded, and rebounded in the late trading. What needs to be paid attention to next is whether the gold price will rebound three consecutive positive lines and restart the upward trend, or will turn negative again and continue to correct downward. Therefore, the next bullish rebound is theoretically difficult to break through the historical high. Of course, in extreme cases, if the historical high is accidentally refreshed again, then pay attention to the bulls hitting the limit position of 3080-3100 area and then falling. The key positions below are 3000, then the low point of last week, 2980. If it breaks below 3000, the bears will take the initiative. If it breaks below 2980, it indicates that this round of bulls has ended and peaked. In the future, it will fall below 2950-55 and 2930 and further fall to 2880 and break through to test the 2830-35 area! On the whole, today's short-term operation of gold recommends shorting mainly on rebounds, supplemented by longs on callbacks. The top short-term focus is on the first-line resistance of 3030-3040.Trade closed: target reached
Good news, guys! This week has had a great start! According to our strategy, we decisively shorted around 3032. The market trend was exactly as we expected, successfully reaching the target area of 3020, and we successfully closed the position. We easily made a profit of 120 points again, and successfully secured the profit. Next, we stay focused and patiently wait for the next suitable position opportunity. Once there is a signal, I will notify you as soon as possible, so stay tuned 🌐!
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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.
Related publications
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.