The gold market continued to fluctuate yesterday, and the price was repeatedly under pressure at the key position of 3250. At the weekly level, gold prices tried to rebound after bottoming out on Friday, but the upper short-term moving average formed technical suppression, and the daily line closed with a cross star with long upper and lower shadows, and the long-short game was fierce. From a technical perspective, the 4-hour chart shows a descending channel pattern. The price rebounded after testing the lower track of the channel many times, but it has never effectively broken through the 3250 central axis suppression. The hourly chart shows that the market maintains a rhythm of shock correction. The current daily line has two Yins and one Yang, but it has not effectively broken the previous low. It is expected that the bottoming and rebounding mode may continue today. In terms of operation, it is recommended to pay attention to the 3260-3200 range, and rely on the upper and lower edges of the channel to implement a high-altitude low-multiple strategy.
Gold operation suggestions:
1. Short near the rebound of 3247-3252, target 3230-3220.
2. Go long near the retracement of 3206-3215, target 3230-3245.
Gold operation suggestions:
1. Short near the rebound of 3247-3252, target 3230-3220.
2. Go long near the retracement of 3206-3215, target 3230-3245.
Trade active
During the decline, gold hit a low near 3204 and began to rebound. According to the trading strategy, our long strategy has begun to make profits and is waiting to bring us huge profits.ou don’t know when to enter the market and want to double your profits? As long as you persist, your weekly profits can reach more than 100-400% without complicated operations.
Trade closed: target reached
With the recent ups and downs in the market, and frequent switching between long and short positions, many investment friends are caught off guard or don’t know where to start. The price drops as soon as they buy in and rises as soon as they exit. They suffer continuous losses back and forth. In fact, this is the situation that many novice friends will encounter. Here I would like to tell you that you need to have a precise control of the market and stick to your own trading logic. Of course, these are empty talk for some novice friends. After all, they have just entered the market and do not have a strict trading plan. Most of them chase rising and falling prices, which leads to serious losses. ou don’t know when to enter the market and want to double your profits? As long as you persist, your weekly profits can reach more than 100-400% without complicated operations.
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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.
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.