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Gold’s Drop: The Calm Before the SurgeThe bulls have been defeated all the way, and the current lowest has fallen to around 3350. However, after gold touched around 3350, the downward momentum has slowed down. I think it is not appropriate to be overly bearish on gold in the short term. It can be clearly seen during the day that gold started to fall from around 3401, and the decline reached $51 around 3350. In the absence of any major negative news, I believe that the intraday retracement space has reached its upper limit, and the structural support line for gold bulls happens to be in the 3350-3340 area, so the room for gold to continue to retrace will not be too large. Moreover, gold has recently fallen under pressure several times after standing above 3340, proving that the upper resistance still exists. In addition, there is a certain amount of selling, which has hindered the bullish momentum to a certain extent, resulting in the lack of momentum for gold bulls. After the current pullback and technical repair, due to the increase in gold liquidity and accumulation of strength, it may be more conducive for gold to hit 3400 again or even higher targets. Therefore, in the short term, I think it is not advisable to chase gold too much; instead, we can accumulate enough cheap chips during the gold pullback, and then wait patiently for gold to rebound and hit 3380-3390 again.
OANDA:XAUUSDLong
by Trading-Diary_Steffen
1
Gold’s Pullback: Fueling the Next Surge Toward 3390-3400Today is the first trading day of this week. Gold has continued to fall since the opening, and has reached a low of around 3364 so far. Through the short-term trend, we can see that gold has insufficient willingness to continue to rise above 3400 and still faces considerable resistance. It needs more support and momentum to drive it forward before it can continue to rise. Currently, gold continues to retreat to around 3364. Has the trend of gold turned into a bearish trend? I think it's too early to draw such a conclusion! Although gold has fallen significantly, there is still strong buying support below. The 3360-3350 area has become a key support level. As long as gold does not fall below this area, the bullish structure has not been completely broken. Therefore, there is still sufficient energy for gold to continue its rebound. This decline in gold is intended to increase liquidity and accumulate more upward momentum, which will help gold stabilize at 3400 and move towards higher targets! Therefore, for short-term trading, I think we can still continue to try to go long on gold, but after all, the decline in gold has been so large. For short-term trading, we can appropriately lower the rebound expectations to the 3380-3390 area.
OANDA:XAUUSDLong
by Trading-Diary_Steffen
3340–3330: Bulls’ Last StandI still hold a long position in gold. Although gold has not continued its rebound and is relatively weak, it has tested around 3340-3330 many times but has never fallen below it. As long as gold remains above 3340-3330, gold bulls may sound the clarion call for a counterattack at any time. Gold has been falling frequently and seems to be shaky, but it has always held the area near 3340-3330. I think the frequent decline of gold is a false signal to trap the short sellers. Why do I think so? 1st, the area around 3340-3330 is the support level of the bullish structure and the last line of defense. It is unlikely that gold will effectively fall below this area in the short term. 2nd, this upward trend began around 3268 and reached a high around 3409.The area around 3340-3330 is exactly the 50% retracement area of this band, which has relatively strong support. So from a technical perspective, I think gold is currently accumulating energy, exchanging time for space. Gold bulls may explode at any time, thereby triggering a gold rally!
OANDA:XAUUSDLong
by Trading-Diary_Steffen
Next Stop 3420? Gold Bulls Push the Limit!Gold has shown a step-by-step rise in the short term, and has stood above 3,400 many times, and the bullish force is relatively strong. However, correspondingly, after gold stood above 3400, it fell under pressure several times, so the shape was not particularly good, which increased the risk of pullback in the short term. However, we do not need to worry. Gold is still running in an ascending wedge structure. Although it has been under pressure and fallen back several times during the attack on 3400, the bullish structure has not been effectively destroyed so far. Moreover, with the sharp increase in gold buying, the 3380-3370 area below has become an obvious intensive trading area, which has greatly limited the gold retracement space. In addition, after gold broke through 3340, market sentiment tended to be optimistic. If gold experiences a short-term pullback, more funds will flow into the gold market, especially for those who have missed out on long trades before, who will rush into the gold market even more frantically. Under the resonance of the current technical structure and market optimism, gold still has the potential to hit 3400, and bulls are even expected to stand firm at 3400 and make further efforts. So in terms of short-term trading, I still advocate that gold pullbacks are buying opportunities. And I cherish the opportunity to enter the market and go long in the 3385-3375 area, and am optimistic that gold will hit 3400 again, and may even continue the bull trend to the 3420-3430 area. OANDA:XAUUSD FOREXCOM:XAUUSD TVC:GOLD FX:XAUUSD CAPITALCOM:GOLD
OANDA:XAUUSDLong
by Trading-Diary_Steffen
Gold Poised for a Surge: 3400 in Sight, 3430 Within ReachToday, gold retreated to a low of around 3350 before rebounding again, reaching a high of around 3390. During this process, we seized the opportunity to go long on gold near 3356 and closed the trade by successfully hitting TP: 3380, making a profit of 240 pips! Although gold retreated after reaching 3390, I had originally planned to short gold near 3395, but gold didn't reach that level during the rally, so our shorting plan had to be shelved. Currently, it's trading in a narrow range around 3380. Clearly, I'm not considering shorting gold after a pullback. Although gold retreated to around 3350 during the day, it did not destroy the current bullish structure of gold. In addition, gold regained the 3370-3375 area again during the rebound, and the gold bulls became even stronger. Therefore, I have now lost the desire and interest to short gold. Gold has currently reached a high near 3390. Given its current structure and strength, I don't believe 3390 is the current high. Gold is likely to attempt to break through 3400, and even has the potential to continue its rise to the 3420-3430 range. As the center of gravity of gold shifts upward, the current short-term support has moved up to the 3375-3365 area; and the relatively strong support is located in the 3360-3350 area. Therefore, for short-term trading, I prefer to start trying to go long on gold after it retreats to the 3375-3365 area, and expect gold to hit 3400 as expected, or even continue to the 3420-3430 area.
OANDA:XAUUSDLong
by Trading-Diary_Steffen
Bullish Outlook Intact: Gold Targeting 3400-3410Gold encountered resistance and retreated several times on its way to 3400, but it remained above 3370 during the pullback, perfectly maintaining the integrity of its volatile upward trend. Therefore, even though gold's upward momentum has weakened, I still believe that due to structural support, gold still has the potential to reach the 3400-3410 area, and may even continue its bullish trend to the 3420-3430 area. As gold prices rise, market sentiment tends to be more optimistic, and the price behavior reflected by the candlestick chart becomes clearer. The lows of gold continue to rise, and the highs always insist on setting new highs in the process of rising. The oscillating upward structure is particularly obvious. While greatly limiting the retracement space, it also greatly consolidates the support structure below and is conducive to further rises in gold. At present, gold has been confirmed to have stabilized above 3370, so gold may not give another chance to fall back to the 3360-3350 area. Then in the next short-term trading, the gold pullback is a buying opportunity. We focus on the opportunity to participate in long gold after gold retreats to 3380-3370. The target will first look at the 3400-3410 area, and the higher target area is in the 3420-3430 area.
OANDA:XAUUSDLong
by Trading-Diary_Steffen
Don’t Blink — Gold Charging Toward 3400!Overnight, we entered a long trade at 3365 and successfully closed the trade by hitting TP: 3395, locking in nearly 300pips of profit. This was a very successful and accurate trading strategy. Just now, gold became very crazy after rising, and plunged directly from around 3397 to around 3372. It was a very scary and crazy diving action. In fact, I am not worried about it. On the contrary, I am very happy that it provides me with another opportunity to enter the market and go long on gold. I've already entered a long position in gold again, as planned, in the 3375-3365 area. Regarding the recent plunge in gold, I think it was intended to scare off the long positions that were somewhat loose in their intentions. Although gold has fallen sharply, it is still in a recent volatile upward structure. The volatile upward structure has not been destroyed in the short term, so I believe that gold will not have much room for retracement for the time being under the support of the bullish structure. On the contrary, I believe that after gold touches around 3397, even if it is weak, it will try to hit the 3400 mark, and it is even expected to continue the bullish trend to the 3420-3430 area. There may be many friends in the market waiting for the opportunity to enter the long market at 3350 or even 3340, but what I want to say is that under the support of the gold bull structure, the downward space has been greatly limited. In the short term, gold may not go to such a low position at all, so relatively speaking, I prefer to go long on gold in the 3375-3365 area, and I have indeed done so!
OANDA:XAUUSDLong
by Trading-Diary_Steffen
2
Bullish Momentum Builds: Gold Set to Challenge 3400 and BeyondAlthough gold encountered resistance again near 3385 in the short term, the retracement has not been effectively continued so far, and the downward momentum is not particularly strong. Gold has always remained above the 3375-3365 area, with strong buying support below and the market bearish sentiment is not serious. In comparison, the bulls still have a considerable advantage! The current gold price structure clearly maintains a strong bullish trend. With gold reclaiming the 3375-3365 area yesterday, bullish sentiment has further strengthened. As gold's center of gravity shifts upward, multiple strong support areas have formed below, limiting any potential pullbacks and further supporting its upward trajectory. Therefore, as long as gold can maintain above the 3375-3365 area, I believe that gold will definitely refresh the short-term high of 3390 again, and is expected to launch a strong impact on the 3400 mark, and may even continue to the 3420-3430 area. So for short-term trading, I don’t have much desire to short gold for the time being. I am happy to watch for opportunities to enter long positions after gold retreats to the 3375-3365 area!
OANDA:XAUUSDLong
by Trading-Diary_Steffen
Gold Bulls Unshaken, 3400 in FocusGold prices retreated from a high of 3385 today, currently hitting a low near 3358. How far will gold fall? Are the bears back in control? I'm not worried about a gold pullback, but rather a lack of one, because only a pullback can provide a good entry opportunity. Clearly, I remain bullish on gold and optimistic about it reaching the 3400 mark. Because gold fell all the way to around 3358, some voices in the market began to tout the strong return of the bears, but I remained unmoved. When many people were once in self-doubt, I was quietly taking advantage of the gold pullback to accumulate funds in batches and pick up bargains. We can clearly see that gold did not destroy the bullish structure during the decline, and as gold rebounded, the 3360-3350 area has become a dense trading area, indicating strong buying support. After the technical top and bottom conversion, it has become a relatively solid support area. It may be difficult for gold to fall below this support area in the short term. So, why has gold repeatedly encountered resistance and retreated? I believe that gold has encountered resistance and retreated in the 3385-3390 area many times in order to repeatedly test the effectiveness of support and consolidate the strength of support. It is also to increase liquidity during the retreat period, thereby accumulating more upward momentum so that gold can rise further and break through the 3400 mark. So I still hold a long position in gold, and I have not lost confidence in the gold bulls. On the contrary, I still expect that gold will be able to hit 3400 in one fell swoop after repeatedly testing the support, or even continue to rise to the 3420-3430 area.
OANDA:XAUUSDLong
by Trading-Diary_Steffen
Next Stop 3420? Gold Bulls Push the LimitBecause the U.S. non-farm payroll report performed worse than expected, gold rebounded strongly last Friday and recovered half of its losses in one fell swoop. The bulls returned strongly. Today, after consolidating at a high level, gold continued to choose to break upward, reaching a high of around 3385. There is no doubt that bullish forces still hold the upper hand. From a fundamental perspective, the Federal Reserve is currently facing greater pressure to cut interest rates; and it can also be clearly seen from the candlestick chart that a significant "W"-shaped double bottom structure has been constructed near 3268 and 3280, which has limited the gold's retracement space while also playing a key structural support role in the rise of gold. With the combined effects of news and technical factors, gold still has the potential to continue its upward trend. And I think there is still a great possibility that gold will test the 3400 mark again. Once gold stabilizes at 3400, it will definitely hit the 3420-3430 area. As the center of gravity of gold gradually shifts upward, the lower support area also moves up. The current short-term support is obviously in the 3365-3355 area, while the relatively strong support is in the 3345-3335 area. According to the current pattern structure, the bulls may not allow gold to retreat to the 3345-3335 area. So in terms of short-term trading, we first consider the opportunity to enter long positions in the 3365-3355 area!
OANDA:XAUUSDLong
by Trading-Diary_Steffen
2
XAUUSD 1H AnalysisGold experienced a strong selloff, breaking multiple key S&R levels and forming a clear bearish structure. Currently, price is reacting from the PD Low + 1H demand zone (~3265) and pulling back. 🔍 Key Zones: PD High – 3335: Major resistance / Supply Supply Zone – 3295–3305: Key area to watch for bearish reaction Current Resistance – 3285: Price testing this minor S&R level now PD Low – 3265: Strong bullish reaction zone 📌 Potential Setups: Sell Setup: If price enters 3295–3305 (Supply Zone) and forms rejection on 15M/1H → short toward 3265. Buy Setup: If price breaks and holds above 3305, look for retest and continuation toward 3335. Scalp Long: Small pullback toward 3275–3270 could offer intraday long up to 3295–3300. 📈 Bias: Still bearish unless price reclaims and sustains above 3305. Patience is key — let price come to zone and wait for confirmation.
OANDA:XAUUSD
by srj_fxtrader
GOLD (XAU/USD) MA Breakout – High-Probability Long Setup!💰🚨 GOLD HEIST ALERT! XAU/USD MASTER PLAN (Thief Trading Style) 🎯 🔥 Steal Pips Like a Pro – High-Probability Gold Breakout Strategy! 🔥 🎯 Thief Trading’s GOLD Heist Strategy (Swing/Day Trade) �💸 👋 Hey there, Market Pirates & Profit Snatchers! 🌍✨ Based on our 🔥Thief Trading Style🔥 analysis, we’re plotting a major heist on XAU/USD (GOLD). The plan? Buy the breakout, escape before the cops (resistance) arrive! 🚔💨 📈 ENTRY ZONE: The Heist Begins! 🚀 "Wait for the MA Breakout (3400) – Then Strike!" Bullish Confirmation: Enter on a 15M/30M pullback after MA breakout. Thief’s Trick: Use Buy Stop above MA or Buy Limit near swing lows for best risk-reward. DCA/Layering Strategy: Deploy multiple limit orders to maximize gains. 🔔 Set an ALERT! Don’t miss the breakout – thieves move fast! ⏳ 🛑 STOP LOSS: Protect Your Loot! 📍 Thief’s SL Placement: 3330.00 (4H Swing Low) – Adjust based on your risk & lot size. ⚠️ WARNING: If using Buy Stop, DO NOT set SL until after breakout – unless you love unnecessary losses! 🔥 🎯 TARGET: Escape with the Gold! 🏴‍☠️ Take Profit Zone: 3460.00 (or Exit Early if Bears Show Up!) Scalpers: Only trade LONG side – use trailing SL to lock in profits. Swing Traders: Ride the wave but watch for resistance traps! 📰 MARKET CONTEXT: Why This Heist? Neutral Trend (But Bullish Potential! 🐂) Key Factors: Geopolitics, COT Data, Macro Trends, Sentiment Shift 🚨 News Alert: Avoid new trades during high-impact news – trailing SL saves profits! 💥 BOOST THIS HEIST! (Like & Share for More Pips!) 💖 Hit the 👍 Boost Button to strengthen our Thief Trading Crew! 🚀 More Heist Plans Coming Soon – Stay Tuned! ⚠️ DISCLAIMER (Stay Safe, Thieves!) This is NOT financial advice. Do your own analysis & manage risk. Markets change fast! Adapt or get caught. 🎯 Happy Trading, Pirates! Let’s Steal Some Gold! 🏴‍☠️💛
SAXO:XAUUSDLong
by The-Thief
Gold Softens — Watching for a Tactical Long OpportunityYesterday, gold hit a low of around 3351 and then began to rebound. During the rebound, it hit a high of around 3377 and then retreated again. We can clearly see that below 3400, gold is still weak overall, and even failed to reach 3380 during the rebound. In the short term, the 3380-3390 area has become an obvious resistance area. Yesterday, gold rebounded after dropping to around 3351. Whether the support near 3350 is effective has not been verified again, so from a technical perspective, gold still has the need to retreat again and test the support near 3350. Once gold falls below the area when testing the support near 3350, gold may continue to fall to the 3335-3325 area. Therefore, in today's trading, the focus is still on shorting gold, supplemented by trying to go long on gold with the support. 1. Consider shorting gold in the 3380-3390 area, TP: 3365-3355; 2. Consider going long gold in the 3355-3345 area, TP: 3365-3375; strictly set SL 3. If the 3355-3345 area is broken, try to go long gold again in 3335-3325, TP: 3360-3370
OANDA:XAUUSDShort
by Trading_Steffen
350pips Secured — Focus Shifts to Dip-Buying StrategyToday's trading was very successful, and the grasp of the long and short rhythm was very accurate. Today's trading situation is as follows: 1. Close the short position with an overnight entry price of around 3386 near 3380, with a loss of 60 pips, and the loss amount exceeded $6K; 2. Directly short gold near 3380, manually close the position near 3366, profit 130pips, profit amount exceeded $12K; 3. Long gold near 3356, hit TP: 3372 and end the transaction, profit 160pips, profit amount exceeded $8K; 4. Long gold near 3362, hit TP; 3375 and end the transaction, profit 120pips, profit amount exceeded $6K. Intraday trading summary: Today, the long and short sides completed a total of 4 transactions, one of which suffered a loss, but the net profit was 350pips, and the profit amount exceeded $20K. For short-term trading, I think I can submit a satisfactory answer to myself today! How to execute the transaction next? Gold started to pull back from around 3438 and has now reached a low of around 3351, with a retracement of more than 870pips. The retracement space is not small. However, gold has stabilized above 3350 and has started a technical rebound repair, and the upward force is not weak, so gold may have completed the retracement. Under the support of these two technical conditions, gold may regain its upward momentum and hit 3400 again. At present, the short-term resistance is obvious, located in the area near 3380. Once gold breaks through 3380, gold will inevitably continue to rise and hit 3400 again; but I think as long as gold stabilizes above 3350, it is not difficult to break through the short-term resistance of 3380, so gold will inevitably test the 3400 mark again; and the short-term support below is in the 3365-3355 area. Gold may still retreat to this area first during the rise in order to increase liquidity and accumulate momentum, helping gold to break through 3380 more easily. So for the next short-term trading, I think it is feasible to go long on gold in the 3365-3355 area, first looking at the target area of 3380-3390, and then 3400.
OANDA:XAUUSDLong
by Trading_Steffen
Double Down on Gold — Targeting 3400–3410!Obviously, gold did not give us the opportunity to short gold near 3440 today. In the process of its recent pullback, gold tested 3400 as expected, and after falling below 3400, it continued to fall to around 3385 as if it was planned by me. Although the lowest point had reached around 3381, it quickly rebounded above 3385. What is relatively regrettable today is that both of our plans to short gold ended in failure. The first time was when gold did not give us the opportunity to short near 3440. The second time was when we were preparing to short gold at 3400 and set the TP to 3385. However, we did not have time to create an order because the price fell too quickly, causing us to miss the gold short trade again. At present, I have a trading order to go long on gold near 3386. And I go long on gold with twice the usual trading volume. Why am I still optimistic about the rebound of gold in the short term after the gold price fell by nearly $60? Because the area around 3385 is the short-term bull-bear dividing line, although gold has fallen sharply, as long as it stays above the area around 3385, gold is still in a bullish trend as a whole, and the bullish structure has not been destroyed, so in the short term, gold still has a lot of room for rebound after the pullback. This is why I dare to use twice the usual trading volume to buy gold near 3386. However, because the current gold long and short continuity is not strong, and the market uncertainty is still increasing due to complex news, the gold market is prone to violent fluctuations in the short term, so we have to be more careful in trading. At present, I still hold a gold long position near 3386, and I hope that gold can continue to rebound to the target area: 3400-3410.
OANDA:XAUUSDLong
by Trading_Steffen
Gold is surging, can it hit 3500?Due to the trade tensions caused by tariffs and the continued conflict between the White House and the Federal Reserve, gold continued to rise, and the current highest has reached around 3438. Obviously, after gold rose strongly and broke through the 3400 and 3420 areas, the bullish sentiment of gold has been ignited. Next, we need to pay attention to whether gold can test and stand firm at 3450. Gold is currently extremely strong, and there is basically no room for retracement during the rise. As gold rises, the short-term support below has also moved up to the 3415-3405 area; and the upper side needs to pay attention to the breakthrough of the 3450 mark. If gold continues to break through 3450, then gold has the potential to challenge 3500 again; however, if gold still cannot effectively break through when it touches the area near 3500 again, the sentiment of gold cashing out and leaving the market may be stimulated, resulting in gold There may be room for retracement in the short term. If gold falls below 3400 during the retracement, the decline may continue to the 3395-3385 area. Therefore, for the next short-term trading, we can first wait for the opportunity for gold to pull back, and then consider going long on gold with the 3415-3405 area as support; if gold does not give a chance to pull back, then when gold first touches the area around 3440-3450, we can consider starting to short gold.
OANDA:XAUUSDLong
by Trading_Steffen
More Pain for Gold? The Charts Say It’s PossibleSince the start of the London market, gold has almost maintained a narrow range of fluctuations in the 3390-3385 area. Compared with yesterday, the market is much weaker today, and gold has failed to stabilize at 3400 several times, indicating that the sentiment of cashing out near this area is also very high. From the current gold structure, gold is obviously biased towards a long structure. Since gold broke through 3400, 3375-3365 has become the key support area after the top and bottom conversion in the short term. However, gold rose strongly yesterday but did not stabilize at 3400. The bullish sentiment may no longer be strong. Moreover, after the accelerated rise in gold, the sustainability was not strong, so gold still needs to retreat in the short term. This is why I insisted on shorting gold again near 3400 yesterday. Therefore, I think gold has not yet retreated to the right level. I will pay attention to the opportunity to go long on gold after it pulls back to the 3375-3365 area. Gold fell after touching 3400 twice. Whether a short-term effective "M" double top structure has been formed, I think more signals are needed to verify. However, in the short term, it is still under pressure in the 3405-3410 range, so if there is no major positive news, I think gold may maintain a wide range of fluctuations in the 3410-3360 range. Therefore, if gold rises to the 3400-3410 range again, I will continue to try to short gold!
OANDA:XAUUSDShort
by Trading_Steffen
Gold’s Rapid Surge: A Trap Before the Drop?Gold finally showed signs of retreat. We are still holding a short position near 3400. So far, we have made a profit of 50 pips. However, I will still hold it to see if gold can fall back to the 3385-3375 area as expected. We have completed 2 transactions today, and there is still 1 transaction left to hold. 1. First, we bought gold near 3345 and ended the transaction by hitting TP: 3370, making a profit of 250 pips, with a profit of more than $12K; 2. We shorted gold near 3385 and ended the transaction by hitting SL: 3395, with a loss of 100 pips, a loss of nearly $5K; 3. We are still holding a short gold transaction order near 3400, with a current floating profit of 60 pips and a floating profit of nearly $4K; The above is the detailed transaction situation today. To be honest, today's rebound strength far exceeded my expectations, and after our first long position hit TP, the market never gave any chance to go long on gold after a pullback, but accelerated to around 3401. But obviously, the accelerated rise of gold is suspected of catching up with the top, and in the short term it faces resistance in the 3405-3410 area, and secondly pressure in the 3420-3425 area. So I don't advocate chasing gold at the moment. On the contrary, I am still actively trying to short gold around 3400, first expecting gold to pull back to the 3385-3375-3365 area. And I think if gold wants to continue to test the 3405-3415 area, or even sprint to the area around 3425, gold must go through a pullback to increase liquidity to accumulate upward momentum. I think it will at least pull back to the 3385-3375 area.
OANDA:XAUUSDShort
by Trading_Steffen
Warning Signs After Gold’s Sharp Rise — Is a Pullback Coming?Today, gold rebounded from around 3345, and has now rebounded to around 3389, which is only one step away from the 3400 mark. Gold has hardly retreated during the rise, and the rise is strong. However, we can see from the small-level candle chart that gold suddenly accelerated its rise after consolidating around 3365, and continued to around 3390, and is now oscillating near the recent high trend line. After gold accelerated its rise and oscillated near the recent high trend line, this made me have to be more cautious, because we must be careful that the acceleration of gold's rise in the short term is a trap for buyers, so even if we are bullish on gold in the short term, we should not directly chase gold at a high level; according to the current structure of gold, I think it is necessary for gold to retest the 3370-3360 area support before continuing to rise and hitting 3400. Only after verifying that the support in this area is effective can it be conducive to a better rise in gold! So for short-term trading, I think we can still try to short gold now, and then wait patiently for gold to retest the 3370-3360 area.
OANDA:XAUUSDShort
by Trading_Steffen
Is This the Start of a New Gold Bull Run?News that must be paid attention to: 1. The Middle East region is in constant conflict and the situation is unstable, which may re-stimulate the market's risk aversion sentiment; 2. Trump strongly called for a rate cut, and many Fed directors agreed to the rate cut. Under the situation of internal and external troubles, can Powell withstand the pressure of rate cuts? In addition, the tense relationship between Trump and Powell, as well as the development of Powell's dismissal storm, have increased the market's risk aversion demand and enhanced the market's bullish sentiment; 3. The uncertainty brought about by the tariff issue may disrupt the market. Technical aspects: This week, the gold market is roughly a bottoming out and rebounding trend. We can clearly see from the recent candle chart that the recent trend line suppression is located near 3380, and this week gold has repeatedly encountered resistance and fallen in the 3375-3380 area, which has strengthened the suppression effect of resistance in this area to a certain extent; and gold has repeatedly tested the 3320-3310 area support during the retracement process. Gold has not fallen below the support of this area during multiple retracements, giving the market bulls great confidence. On Friday, gold hit 3360 during the rebound and closed above 3350, which is strong in the short term. As gold continues to rebound, the current bull-bear dividing line is in the 3345-3335 area. If gold cannot even fall below the 3345-3335 area during the retracement next week, it will greatly boost buying power and is expected to hit the 3380 area again. Once gold breaks through the 3380 area during the rise, there will be a chance to further continue the rise and test 3400, or even the 3420 area. Therefore, at the beginning of next week, if gold retreats to the 3345-3335 area for the first time, I think we must make an attempt to buy gold, first focusing on the target 3370-3380 area, and then bullish to the 3400-3420 area after a strong breakthrough.
OANDA:XAUUSDLong
by Trading_Steffen
Gold’s Last Stand? Major Retest at 3310–3300 Under the influence of negative news, gold today fell below the recent low of 3320 and continued to fall to around 3310. The current gold structure looks particularly obvious, the center of gravity of gold gradually moves downward, and the short trend is extremely obvious; however, as gold repeatedly probes the 3320-3310 area, we can clearly see the resistance of gold to falling, and multiple structural supports are concentrated in the 3320-3300 area. So as long as gold does not fall below this area, gold bulls still have the potential to rebound. However, for now, after experiencing discontinuous sharp rises and falls, gold needs to undergo a short-term technical repair, so it may be difficult for a unilateral trend to appear in the short term. So I have reason to believe that gold will focus on rectification and repair next. The important resistance area we have to pay attention to above is in the 3340-3350 area; and the important support below is in the 3310-3300 area. Currently, gold is fluctuating in a narrow range around 3340, and the short-term rebound momentum is sufficient, but I still believe that gold will fall back again and test the support of 3320-3300 area after consuming the bullish energy. So for short-term trading, first of all, I advocate shorting gold in the 3340-3350 area, and expect gold to retreat to the 3320-3300 area during the consolidation process.
OANDA:XAUUSDShort
by Trading_Steffen
3340-3300: Lock in the buy high and sell low in this area!Under the influence of unemployment benefits and zero monthly sales data, gold fell sharply in the short term, but it did not effectively fall below 3310 during multiple tests, effectively curbing the further downward space of the shorts. Multiple structural supports are also concentrated in the 3310-3300 area, so as long as gold does not fall below this area, gold bulls still have the potential to rebound. However, for the current gold market, it may be difficult to see a unilateral trend in the short term. After experiencing discontinuous surges and plunges, gold may focus on consolidation and repair, and the consolidation range may be limited to the 3340-3300 area. So for short-term trading, first of all, I advocate going long on gold in the 3320-3310 area, and expect gold to rebound and reach the 3330-3340 area; If gold reaches the 3335-3345 area as expected, we can start to consider shorting gold, and expect gold to step back to the 3320-3310 area during the shock and rectification process.
OANDA:XAUUSDShort
by Trading_Steffen