12.24 Technical Analysis of Gold Short-term OperationsYesterday, the gold market opened low at 2619.5 in the morning and then the market rose first. The daily line reached a high of 2633.3 and then the market fell back. The daily line reached a low of 2607.8 and then the market consolidated. The daily line finally closed at 2613.3 and the market closed with a pregnant inverted hammer pattern with a long upper shadow. After the end of this pattern, today's market fell back and continued to short. In terms of points, today's market first rose to 2620 short and conservatively 2628 short stop loss 2632. The target is 2612 and 2607. If it falls below, it will look at 2603 and 2600. If it falls below, it will leave near 2593 and 2585.
Goldintraday
12.20 Gold short-term short-selling trend remains unchangedAgainst the backdrop of changes in the Fed's expectations for a rate cut in 2025, and the reduction in the number of rate cuts and the reduction in the magnitude, the gold market plunged sharply on Wednesday night. Although there was a rebound on Thursday, the price once reached 2626. However, it should be noted that this seemingly strong rebound is actually a bullish counterattack after the decline, and it is difficult to reverse the overall downward trend.
From the daily trend pattern, the closing line of the high-rise and fall leaves a long upper shadow, which means that the increase cannot be maintained and the strong pattern is difficult to return.
This rebound, on the one hand, vented the resistance of the bulls, and on the other hand, it confirmed the pullback of the previous bottom support and completed the top-bottom conversion. Once the key support level is broken, the bears will continue. In addition, after the short-term touches the whole hundred mark, there will be repeated situations. From the technical perspective, whether it is rising or falling in the short-term, after touching the whole hundred mark, there will be short-term repetitions. Therefore, after yesterday's decline and the price fell below 2600, it is normal for the price to rebound.
Although the current market has not started to fall, it is very difficult for the price to return to the original support level, and the downward trend has become a high probability event.
Today's trading strategy:
SELL: 2620 Target 2600 90 80
12.20 Gold Short-term Operation Analysis StrategyYesterday, the gold market opened at 2645.2 in the morning, and then the market rose slightly. The daily line reached a high of 2652, and then the market was in a range. Before 3 am, the daily line reached a low of 2632.9, and then the market was in a range. Although the Fed cut interest rates by 25 basis points in the early morning, the dot plot showed that the rate cuts next year would be reduced from 4 to 2, and the Fed Chairman later confirmed that the market broke through and fell sharply. The daily line reached a low of 2583.1, and then the market was in a range. The daily line finally closed After the line reached 2585.2, the daily line closed with a saturated large negative line with a slightly longer upper shadow line. After this pattern ended, the rebound trend was destroyed. The market has a need to continue to fall back within a certain period of time. In terms of points, the short position at 2600 this morning was reduced and the stop loss was followed up at 2602. Today's market first rose to give a 2600 short conservative 2612 short stop loss of 2616. The lower targets are 2590 and 2583. If it falls below, it will focus on the 2572 and 2563-2554 support range.
12.19 Gold interest rate decision determines direction!How to participate in the short-term gold today?
From the daily chart of gold, it is a weak bearish pattern. The upper 2662 is the resonance pressure of the daily and hourly lines. This position has been prompted in recent days. The hourly chart shows that 2651 is the hourly annual line level pressure. This position also suppressed the retracement in the early trading. The hourly BOLL is slowly closing. The data is approaching. The 1-hour and 30-minute charts are also in a volatile pattern. So today's morning trading will not see a big market outbreak. Pay attention to the 2640/38 area below to see a volatile rebound of 2651-2662. When the price reaches 2662, you can first participate in the retracement. Of course, these are all before the data is released. After the data is released, you can still treat it as a shock between 2706-2600.
12.18 Gold shock revision BUYGold rebounded slightly yesterday, with a small cross positive line on the daily line.
1. After bottoming out and rebounding in the morning, it started to rise from 2650 in the afternoon.
2662-3 is the 382 position of the rebound from Friday's decline, and 2664 is the continued decline, so it is the key resistance level.
The two watersheds are very clear, one is the low point of 2643, and the other is the European session time point. Therefore, the 2650 line was chosen to bet on the rebound.
2. The 2662-4 line, the evening retracement, the formula emphasizes that the European session opened a decline in the morning, oscillated, especially the rebound from 6-8 o'clock, so in this process, the price did not break through from 8-10 o'clock, and it has been sideways, so the probability of a retracement in the US session is very high.
3. The 2650-1 line, yesterday's intraday rise and retracement to the 618 position, the standard 618 in the oscillation is better to make a mistake than to let it go.
Although the 618 position was touched yesterday or sideways this morning, the strength of the pullback is not large, but it is still a sign of oscillation.
Today, it is quite controversial. The daily small cross positive line, according to the previous rhythm, the daily positive line is a continuous positive line, so we still need to see a rebound.
The cross K is also the transit point of the short-term decline, so the European session time is very important.
The watershed 2643 is also very important, which is the key to see whether it will continue to fall.
From the operation point of view, in the morning at 618, the 4-hour is still more, 2651-2 is more, if you don’t participate before 7-8 in the morning, you won’t participate in the second time.
Today, we really need to observe the strength and weakness of the day.
Look at the rhythm of the day’s operation and the layout of the US market.
1. Break 2643 during the day, the US market will pull back and empty, and the support level is 2630-32.
2. If it continues to rise during the day, the daily line is likely to go through a cycle of continuous positive rebound. Today, we will see a pullback of 618. If it is touched, you can short. You can’t double top short.
Intraday short-term operation suggestions:
BUY: 2640, defense 30, target 55-60
12.17 Gold Short-term Operation Analysis SELLGold was still fluctuating and repairing yesterday, but it eventually fell under pressure. Gold was still fluctuating with a short side. Rebounds are still opportunities to continue to short. Gold is still short at the current price of 2656 in the early trading!
The 1-hour moving average of gold is still a short arrangement with a death cross downward. The adjustment of gold has not ended. Gold fell under pressure at 2665 yesterday, indicating that gold is still in a strong resistance zone above 2660. It is still short at highs under pressure at 2665 in the Asian session. It can also be shorted near 2656 in the Asian session.
Gold is fluctuating and urgently needs to choose a direction. Of course, it is now a fluctuating relay of the decline, so it is still short at highs. The focus of this week is the Federal Reserve’s interest rate decision waiting to be launched, which is also the battle between the long and short positions of gold. Whether the gold bulls can turn the tide depends on the impact of the data.
Of course, if gold does not break a new low for a long time, it is not ruled out that gold has the possibility of short-term bottoming, so it is time to be flexible at any time.
Asian trading strategy:
Short gold at 2656, stop loss at 2666, target at 2640-2635
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12.16 Gold Short-term Operation AnalysisThe gold market rose and fell last week. At the beginning of the week, the market opened high at 2645.1 due to the risk aversion factors on the weekend. The market first filled the gap and gave 2626.1. Then the market rose strongly. By Thursday morning, the highest point of this round of impact target 2726.2 was touched. After that, the market took profits and the negative fundamental factors suppressed the market to fall rapidly. The weekly line finally closed at 2648.6. The weekly line closed with a shooting star pattern with a very long upper shadow. After the end of this pattern, the weekly line has technical adjustment pressure, and the target of this round of testing is still the weekly level Bu Lin middle track support. In terms of points, if it rises first in the morning, give 2667 shorts and conservatively give 2670 shorts and stop losses at 2674. The lower targets are 2655 and 2645. If it falls below, this week's targets are 2640 and 2631 supports. If it still breaks, look at 2623 and 2612 near the extreme adjustment points of this round to exit and reverse trend long positions.
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Buy gold, TP: 2690-2695Bros, today gold fell sharply and fell below 2695 due to the negative impact of PPI data on the gold market. I reminded in the previous opinion that the 2700-2695 area is the last line of defense for bulls. Once gold falls below this area, it is easy to be sold and continue to fall.
So today I went long on gold near 2702 as planned. After gold fell below 2695, I strictly followed the trading plan and chose manual stop loss near 2693, ending the gold long position with a loss of $4.7K; then I followed up with a gold short position near 2693, and manually closed the position near 2683, ending the transaction with a profit of $4.9K.
It means everything I did in trading today was for nothing,fortunately, I strictly followed my trading plan and strategy to execute the transaction, so even if I lost money in the long transaction, I recovered the loss in the short transaction, and there was no loss overall. Relatively speaking, no loss is the greatest success.
At present, after gold is relatively stable, I have bought gold again near 2683, and the short-term important support below is 2675. I expect gold to rebound to at least 2690-2695. As for the result of the transaction, let us wait and see! If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
GOLD - Short term reversal after touching strong ResistanceHi dear traders,currently I am looking into a short term correction over gold, hence currently there is quite a lot of positive volatiltiy generated within the Stock & Index market. Additionally with the closure of the Syrian problematic goverment I can see people ease off and liquidate some money from the Safe Heaven Assets and look into boosting and preparing for the Christmas Rally!
Entry : 2,711
Target 2,690
Stop loss : 2,728
RR - 2.20 ~
As always my friends happy trading!
P.S. If you have questions or inquiries about one of my existing set-ups or personal questions / 1 on 1 sessions consider joining my channel so you can follow up with me in private!
12.11 Gold Breakthrough? Exploring the bottom?Gold broke through the range yesterday and rose sharply, with a medium-sized positive line on the daily line.
This is mainly because it did not retreat to the key resistance level of 2688-9, which was the previous decline.
In addition, it also formed another force at 7-8 o'clock in the morning, and went through a cycle.
In terms of technical points, today's technical points are basically the same.
1. The previous day was strong, and the second day's morning 7-8 o'clock saw an increase.
2. The morning rose, forming a low point watershed. Today is 2693.
3. The European session broke the previous day's high, so the US session must be long twice, and the correction at 6-8 o'clock requires one more time in the US session.
4. There was no cyclical decline after 10 o'clock in the US session yesterday, and the resistance level of 2689 was blocked, but there was no decline.
5. The rise continued to break the high in the early morning, and it is destined to have more cycles in the morning today.
And the morning continued to rise, breaking the 2700 line. How to look at it today?
From the 4-hour perspective, the market has been rising with broken Yang all the way. There are two trends for this pattern:
1. Continue to accelerate the rise at the current position. The upper resistance is 2722-24, the previous high point.
2. This kind of broken Yang has a relatively fast bottoming out and rebound during the day, and then continues to be strong.
Because after the morning market, the long position is very stuck, it depends on how to understand it:
From the perspective of the pattern, it is unnecessary to short, either continue to wait, continue to rise during the day, and continue to be long in the US market.
Or wait for more intraday retracements, but this kind of retracement now, if it returns to the starting point in the morning, it is not meaningful, and it can only break the position and rise.
Therefore, we are more inclined to the latter, and the European market will quickly bottom out and rebound during the day.
In other words, there is no need to chase the longs, wait for more intraday retracements, or wait and see the US market.
Although the watershed in the morning is at 2693, according to the continued rise in the early morning, the watershed is at 2684-5, which is the focus of today's attention.
In view of the intraday retracement, especially the retracement after breaking the watershed, we are considering more, and we will see the bottom rise.
Or it is extremely strong, and it will continue to pull up directly, and we will see the show during the day, and we will see more highs and falls in the US market. The key resistance above is 2722-4.
Short-term support is 2684-5. Other positions are not considered for the time being, just pay attention to the intraday prompts.
12.11 Gold breaks resistance level, 2700 is comingTechnical analysis: key support and resistance levels
From a technical perspective, spot gold has successfully broken through and closed above the key resistance level of $2,650, and this breakthrough has provided new momentum for bulls. The oscillator indicators on the daily chart show positive upward momentum, suggesting that gold prices may continue to challenge the $2,700 mark and further touch the supply range of $2,720-2,722.
But at the same time, attention should be paid to the role of support levels. As a previous resistance level, $2,650 has now been transformed into an important short-term support. If it falls below this level, gold prices may further pull back to the $2,625-2,620 area, or even test the $2,600 integer mark. If it breaks below $2,600, it may open up more downside space, targeting the November low of $2,537-2,536.
Intraday analysis: upward momentum may continue
Overall, the upward momentum of spot gold remains solid. Under the combined effect of safe-haven demand, weak US dollar and geopolitical risks, gold prices are expected to continue to rise in the short term. However, before the Fed meeting and the release of the US Consumer Price Index (CPI) data, the market may be volatile. If the CPI data shows that inflationary pressures are easing, it may provide conditions for gold bulls to further exert their strength.
In the medium and long term, the gold market is still strongly supported by fundamentals. Investors should pay close attention to the latest developments in the Fed's policy direction and the geopolitical situation, which will continue to affect market sentiment and gold prices.
Continue to buy goldAs I mentioned in my last article, gold will continue to rise. We went long on gold near 2662 in the last transaction and closed the transaction by hitting TP: 2676 for profit, easily earning 140 Pips, a very successful transaction!
At present, gold has risen to a maximum of around 2679, breaking yesterday's high in one fell swoop. The hourly level M top suppression has been ineffective, and the rising pattern remains intact. At present, gold still has the momentum and space to continue rising, so gold may still rise or even try to touch around 2690. , then we can just follow the trend and go long gold in trading.
Of course, we can't chase gold directly, but because gold has a small retracement space during the rise, we can't expect too much retracement before going long on gold, and the short-term support area has moved up to the 2670-2660 area, so we can go long on gold based on this support area.
Bros, do you continue to be bullish on gold with me? If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
XAUUSD: 10/12 Market Analysis and StrategyGold technical analysis
Daily resistance 2700, support below 2580
Four-hour resistance 2683-2700, support below 2643-37
Gold operation suggestions: In the Asian market on Tuesday, gold fluctuated in a narrow range, holding most of the overnight gains. Gold prices hit a two-week high of 2676 on Monday, climbing more than 1%, as the People's Bank of China resumed buying gold after a six-month hiatus, and expectations of a rate cut by the Federal Reserve next week also increased bullish sentiment, and the geopolitical situation also boosted safe-haven buying demand. China's resumption of purchases may support investor demand in the country. In 2023, China was the world's largest official buyer of gold, but the People's Bank of China suspended purchases for 18 consecutive months in May. Strong buying by central banks is also a major support for gold's record gains this year. Another factor to note is the outlook for monetary easing by global central banks. The US November NFIB Small Business Confidence Index will be watched today. The market expects it to be bearish for gold prices, but before the release of this week's heavyweight data such as CPI, any data will have limited impact, and continue to operate based on the current technical aspects.
From the current 4-hour trend analysis, we focus on the 2683-2700 line pressure on the top, and the 2654 line short-term support on the bottom. In terms of operation, we maintain the main tone of going long. At present, the 2637-2627 weekly and daily support levels have been supported. We continue to be bullish and are expected to reach the 2700 mark this week.
BUY:2660near
BUY:2654near
(Just go long on dips, not necessarily according to my points, as long as you do it above the daily and weekly support)
Here’s why gold exploded, trading strategiesIn the Asian market on Tuesday, gold fluctuated in a narrow range and is currently trading around 2667, holding most of the overnight gains. Gold prices hit a two-week high of 2676 on Monday, climbing more than 1%, because the Chinese central bank resumed buying gold after a six-month hiatus, and expectations of a rate cut by the Federal Reserve next week also increased bullish sentiment, and the geopolitical situation also boosted safe-haven buying demand.
It should be reminded that the US dollar index and US Treasury yields rose slightly, which made gold bulls still cautious. The price of gold is still in a range of nearly two weeks. Before the release of US CPI data on Wednesday, gold may still maintain a volatile trend. This trading day will also usher in the Reserve Bank of Australia's interest rate decision, and investors also need to pay attention.
Gold surged and fell back in the late trading. It is expected that today it will be corrected before it can further test the sideline and upper line again. From the channel point of view, this wave of rebound has not shown a signal of turning bearish in the daily chart, so it is still a priority to buy at a low price! The daily support is around 2644. However, the support in the Asian session is around 2654!
Under the stimulation of risk aversion, gold finally fluctuated upward. Yesterday, gold rose to 2676 in the US market and fell back in the short term. Gold fell as expected, but the decline in gold was not large. Bulls began to accumulate momentum to rise. Gold fell back in the Asian session and went long!
Gold crossed the 1-hour moving average. If all the moving averages diverge upward, then gold still has room to move upward. The 1-hour moving average support of gold moved up to the 2644 line. Gold can enter the market near 2654 first.
First support: 2654, second support: 2644, third support: 2632
First resistance: 2676, second resistance: 2688, third resistance: 2700
Trading strategy:
BUY: 2652-2654
SELL: 2676-2678
12.10 If gold falls back, go longYesterday, the gold market opened high at 2645.3 in the early trading due to fundamental risk aversion news. After that, the market first filled the gap and reached 2627.2. After that, the market rose strongly. The daily line reached 2676.4 and then the market consolidated. The daily line finally closed at 2660. After that, the market closed with a spindle pattern with long upper and lower shadows.
BUY: 2645 Stop loss: 2640 2635
$: 2657, 2667, 2677. Breakthroughs look at 2685, 2692, 2702-2710.
Prepare to go long gold nextBros, today is destined to be an extraordinary day. Our short position turned from profit to loss, and then successfully turned loss into profit again! Indeed, when gold broke through 2675, I changed from calmness at the beginning to nervousness, but I saw that gold failed to continue to break through several times, so I chose to add positions near 2675 to short gold again. Obviously, it turned out that my trading idea was correct. Gold then gradually fell back and has now reached around 2660. I just closed my short position manually near 2660. Although gold may continue to fall back to the shock range, the 2660-2655 area below has been transformed into a support area, so to avoid gold rebounding again with the support area, I no longer took risks and manually closed the order near 2660 to lock in profits in time.
Although there were some twists and turns in the trading process today, the results proved that I was right, so we were able to successfully turn losses into profits in the gold short trading! A very good trading experience, the most satisfying is turning losses into profits! If you follow my trading strategy, I believe you have also made a good profit, congratulations!
Then next, if gold cannot effectively fall below the 2660-2650 area during the decline, then I may look for a suitable opportunity to go long on gold!
Bros, have you followed me to short gold? So how do you trade gold next?If you want to learn more detailed trading ideas and get more trading signals, you can choose to join the channel at the bottom of the article to make trading no longer difficult and make making money a pleasure!
12.10 Geopolitical gold prices are expected to riseThe oscillating market is a market that accumulates momentum. The longer the oscillation lasts, the longer the unilateral continuation will last after the breakthrough. This is the basic law of the market trend.
In the morning of December 9, the price of gold rose first, which was a response to the risk events over the weekend. The safe-haven property of gold was reflected again.
The situation in the Middle East (Syria) is deteriorating continuously and rapidly. Its opposition has seized control of the capital Damascus, and the top leader has been forced to flee. This "evolution" is the key to the deterioration of the incident, which has aggravated market concerns.
Intraday analysis suggestions:
In the short term, the support below the gold price is $2,620. This position has been tested and tested many times in the early stage. The upper pressure is at $2,660 and the strong pressure is at $2,670. The early week period can maintain a bullish trend on the strong support of $2,620.
The pressure shown by the technical side is very obvious at the moment, but the fundamental support factors also exist. This is the reason for the continuous struggle between long and short positions, and it is also the reason for the breakthrough. On the whole, after the oscillation or struggle between long and short positions, the probability of the long side winning is relatively high. Therefore, the transaction can be mainly long on dips
XAU/USD 09 December 2024 Intraday AnalysisH4 Analysis:
-> Swing: Bearish.
-> Internal: Bullish.
Bias/analysis remains the same as analysis dated 25 November 2024.
Price Action Analysis:
As mentioned in yesterday's analysis dated 24 November 2024, whereby price was expected to print a bearish CHoCH. This is how price printed.
Currently, price is trading within an established internal range.
Intraday Expectation:
Price is anticipated to trade down to either discount of internal 50% EQ, which is marked in blue, or H4 demand zone before targeting weak internal high priced at 2,721.420.
Note:
With the Federal Reserve's dovish stance and persisting geopolitical uncertainties, heightened volatility in Gold is expected to continue. Traders should proceed with caution and adjust risk management strategies in this high-volatility environment.
H4 Chart:
M15 Analysis:
-> Swing: Bearish.
-> Internal: Bearish.
Today's analysis and bias will remain the same as analysis dated 26 November 2024.
Price Action Analysis:
Intraday expectation and analysis dated 25 November 2024 printed as anticipated, with price successfully printing a bearish iBOS after targeting the weak internal low.
A correction from yesterday's intraday expectation: instead of targeting the weak internal high, price was expected to target the weak internal low.
Price has since printed a bullish CHoCH, indicating, but not confirming, bullish pullback phase. We are now trading within an established internal range.
Intraday Expectation:
Price is anticipated to trade up to either the internal 50% EQ or the M15 supply zone before targeting the weak internal low at 2,605.310.
Alternative Scenario:
The H4 timeframe has printed a bearish CHoCH, indicating the initiation of a bearish pullback phase coupled with the fact that H4 TF is now trading in discount of internal 50%. However, this suggests that bearish momentum on M15 may face limitations as the broader H4 phase unfolds.
Note:
Given the Federal Reserve's dovish stance and persistent geopolitical tensions, volatility in Gold prices is likely to remain elevated. Traders should remain cautious and prepared for potential price whipsaws in this high-volatility environment.
M15 Chart: