Gold range: 3160-3135
As shown in the figure: Four-hour cycle
Gold's current range: 3110-3130
Key pressure range: 3130-3135
The bottom price of this wave of strong rise is: 2970, which is the strong support area of the double bottom structure.
Yesterday, the gold price adjusted around 3050, and started to rise strongly around 3060.
Next, we have to consider two high-probability trends
(1)
Oscillating repair: 3160-3130 range oscillation
(2)
V-shaped structure break: Direct breakthrough after a short adjustment: 3130-3135, target 3200-3300
Then the strategies brought by the two high-probability trends are very clear:
1: Go long at low prices.
2: Above 3060, the bullish attitude is all over.
3: When the gold price pulls back, look for a suitable low price and use 3050 as the stop loss.
So what we need to do today is: wait for a pullback and fully test the stability around 3060-3080. Adopt a strategy of buying more on a low-price pullback.
Stop loss 3050.
Target 3200
As shown in the figure: Four-hour cycle
Gold's current range: 3110-3130
Key pressure range: 3130-3135
The bottom price of this wave of strong rise is: 2970, which is the strong support area of the double bottom structure.
Yesterday, the gold price adjusted around 3050, and started to rise strongly around 3060.
Next, we have to consider two high-probability trends
(1)
Oscillating repair: 3160-3130 range oscillation
(2)
V-shaped structure break: Direct breakthrough after a short adjustment: 3130-3135, target 3200-3300
Then the strategies brought by the two high-probability trends are very clear:
1: Go long at low prices.
2: Above 3060, the bullish attitude is all over.
3: When the gold price pulls back, look for a suitable low price and use 3050 as the stop loss.
So what we need to do today is: wait for a pullback and fully test the stability around 3060-3080. Adopt a strategy of buying more on a low-price pullback.
Stop loss 3050.
Target 3200
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.
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.