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Short gold, it will fall again after reboundingToday, gold rebounded after hitting a low of around 3245, and rebounded all the way to a high of around 3296, with a rebound of more than $51. Although the strength of gold's rebound cannot be underestimated, since gold fell and broke through, the previous support has become a strong resistance under the top-bottom conversion effect. Under the influence of heavy resistance, the short trend of gold has become more obvious. At present, gold faces resistance in the 3300-3310 area in the short term. Before breaking through this area upward, gold shorts still have an advantage, and it is possible to test the support of the 3260-3250 area again. Moreover, before the NFP market this week, gold may maintain a volatile trend, so after a sharp rebound in gold, the short force may be more expressive. Therefore, in trading, we can appropriately consider shorting gold in the 3295-3305 area, and look at the target area: 3275-3265-3255 OANDA:XAUUSD TVC:DXY FOREXCOM:XAUUSD TVC:GOLD
OANDA:XAUUSDShort
by Trader_Steffen
1
I hold on to my short position and wait patiently.Currently, gold continues to rebound to around 3358, and there has been no decent retracement during the rebound, so during the trading period, apart from chasing the rise, there are almost no opportunities to go long on gold; so is the steady rise in gold during the day brewing a bigger rally? I think there are three reasons for the continued rise of gold: 1. The continued weakness of the US dollar provides support for the strong rise of gold; 2. The trapped long chips have recently shown self-rescue behavior, and strong buying funds have driven gold up; 3. The market intends to eliminate and kill a large number of shorts in recent times; Based on the above reasons, I think it is not a wise decision to chase gold at present; on the contrary, I still prefer to short gold in the short term, and I still hold a short position now; the following are the reasons to support my insistence on shorting gold: 1. The US dollar has a technical rebound demand after a sharp drop, which will limit the rebound space of gold and suppress gold; 2. After the recent trapped long chips successfully rescue themselves, they may cash out in large quantities, thereby stimulating gold to fall again; 3. While killing the shorts, the market has also lured a large number of long funds to a certain extent. Based on the above reasons, I currently still hold short positions near 3345 and 3355, and hope that gold can retreat to the 3335-3325 area.
OANDA:XAUUSDShort
by Trading_Steffen
1
Short gold, it may retreat again after reaching 3340-3350Although the rebound in gold has exceeded my expectations to a certain extent, it is obviously not a good time to chase the rise in gold. The gold rebound mainly benefits from Trump's repeated requests for the Federal Reserve to cut interest rates, which has led to the continued weakness of the US dollar. In fact, we can clearly see that the gold rebound is not supported by trading volume, and the rebound without volume may face the risk of collapse again at any time. So I don't advocate chasing long gold at present. Currently, gold has rebounded to around 3339, almost recovering most of the losses in the previous downward wave (the starting point of the previous wave was 3350), but gold is still under pressure in the 3340-3350-3355 area. In the absence of volume support, gold may fall again after touching this resistance area. Therefore, shorting gold is still the first choice for short-term trading at present; at least make sure not to chase high! You can consider shorting gold with the 3340-3350-3355 area as resistance, and look at the target: 3320-3310-3300
OANDA:XAUUSDShort
by Trading_Steffen
Short gold, it will fall again when encountering resistanceIn the short term, gold retreated to around 3274 and then rebounded again, and it is only one step away from 3300. Will gold regain its bullish trend again? I think it is difficult for gold to break through in the short term. Although gold retreated to around 3274 and successfully built a double bottom structure with the second low point and the low point of 3245, it only increased the rebound space; it is not enough for gold to regain its bullish trend. Since gold fell and broke through, the confidence of bulls has been hit hard. The previous support at the technical level has formed a strong resistance area after the top and bottom conversion, and to a certain extent helped the short force. In the short term, gold faces resistance in the 3310-3320 area. Before gold breaks through this area, the short energy still has the upper hand. Therefore, shorting gold is still the first choice for short-term trading. It is appropriate to consider shorting gold in batches in the 3300-3320 area, and look at the target: 3385-3375-3365
OANDA:XAUUSDShort
by Trading_Steffen
Buy gold, there may be a rebound in the short termAt present, gold has touched the area of ​​3325-3315 mentioned in my previous article, and the lowest price is around 3316. At present, due to the current important support area of ​​3310-3300 below, gold still has a rebound demand in the short term; although gold has not rebounded sharply at present, the downward momentum has indeed slowed down, and gold may rebound after the short force is consumed. Moreover, the ceasefire between Iran and Israel has not yet been settled. Moreover, the ceasefire between Iran and Israel has not yet been settled. With the fluctuating situation in the Middle East, bulls may have opportunities to counterattack. However, the current performance of gold is indeed relatively weak, so there is no need to expect gold to rebound and fill the upper gap area of ​​3360-3370 in the short term; in trading, the rebound expectation can be appropriately lowered, and long positions can continue to be held and look up to the 3340-3350 area.
OANDA:XAUUSDLong
by Steffen_Schade
There are still profit opportunities in short selling!As gold continues to rebound, bulls are reversing their decline. After gold broke through the 3370-3380 area, the current market consensus on 3350-3340 as the bottom area was strengthened. However, as gold fell back under pressure several times after the rebound, it proved that there was still a certain amount of selling pressure above, and it was obvious that the resistance was in the 3395-3405 area; once gold broke through this resistance area, gold bulls would regain the upper hand and are expected to continue to probe the 3320-3330 area. However, before gold effectively broke through the 3395-3405 area, bulls and bears would still fiercely compete for control, so it is still in a wide range of fluctuations. Therefore, before gold broke through the 3395-3405 area, we can still appropriately short gold in the 3385-3395 area, and expect gold to retreat to the 3375-3365 area in the short term. In trading, we must pay attention to the changes in the rhythm of gold. Once gold chooses a direction and makes a breakthrough, we need to change our trading strategy!
OANDA:XAUUSDShort
by Steffen_Schade
Stick to shorting gold and holding itAlthough gold has risen sharply to around 3375 in the short term due to the dovish remarks of Fed officials, it has not made an effective breakthrough. Therefore, gold has not reversed its trend due to the short-term rebound. Gold is still in an obvious short trend. In the short term, gold is obviously under pressure in the 3365-3375 area. If gold fails to break through this resistance area, then after gold consumes a certain amount of long energy, gold shorts will counterattack again and are expected to retreat to the 3350-3340 area again. In the case that good news cannot support the continued rebound of gold, the market's bullish confidence will be hit again, and the short confidence will be further strengthened, stimulating gold to accelerate its decline, and it is even expected to fall below the 3350-3340 area. Therefore, in short-term trading, I still advocate shorting gold, and I am currently holding a short position in gold, and I look forward to the accelerated decline of gold as expected!
OANDA:XAUUSDShort
by Steffen_Schade
A glimmer of hope for bullish lovers!Gold is currently dominated by bears, but thanks to the support of risk aversion caused by geopolitical conflicts, gold has shown a certain degree of resistance to decline while falling. Therefore, the current market direction is very clear, with weak and volatile downward movement. But under this market situation, we cannot short gold excessively. We can only wait for it to rebound to the pressure level and then short gold, or try to go long on gold with strong support. At present, gold has touched the 3350 area again, which has a certain support effect. If gold cannot effectively fall below 3350, then gold may still rebound to the 3370-3380 area again; but once gold effectively breaks the support near 3350, gold is expected to continue to fall to the 3340-3330 area. In terms of short-term trading, I think it is possible to consider starting to try to go long on gold in batches in the 3350-3330 area, TP: 3365-3375
OANDA:XAUUSDLong
by Steffen_Schade
Stick to shorting goldGold is currently fluctuating in a narrow range of 3380-3385, and the trend is relatively slow. We also need more patience. In comparison, I think the current short-selling force has a slight upper hand, because gold has shown signs of accelerating decline after a difficult rebound many times, and has fallen below 3380 many times. According to the current gold structure, gold does not have sufficient room for decline, and it is still possible to continue to fall to the 3365-3355 area. It is expected that gold will not fluctuate too much before the Fed's interest rate decision and Powell's monetary policy press conference. For this interest rate decision, I think the possibility of a rate cut is not great, and the current interest rate may still remain unchanged. The reduction in the expectation of a rate cut may stimulate a wave of gold declines in the short term. So in the short term, I still prefer a short trade in gold. Obviously, gold is currently under pressure in the 3395-3405 area, so we can still try to short gold in this area.
OANDA:XAUUSDShort
by Steffen_Schade
Gold is weak, and there may be a low point yet to come!According to the current structure, gold is obviously in a weak position. Gold has failed to break through the high point of the previous wave after multiple rebounds during the day. 3400 has become a new round of pressure area; and gold has just accelerated its decline and fell below 3370. For the current trend, falling below 3370 will weaken the bullish sentiment to a certain extent and indicate that there is further room for decline, so I think gold should have a low point, and the low point we should first pay attention to is in the range of 3365-3355. So in terms of short-term trading, First, we can try to short gold with the short-term resistance area of 3395-3405; But if gold first retreats to the support area of 3365-3355, we can first choose to go long on gold.
OANDA:XAUUSDShort
by Steffen_Schade
Gold bulls may restart at any time, buy gold!Although compared with the performance of gold during the day, gold only touched 3452 and then began to retreat, and even failed to approach the previous high of 3500, gold is not strong; but based on the current fundamentals and technical structure, gold is currently in a very strong bullish structure; so I think the gold retracement is not a sign of gold weakness, but to increase liquidity, so that gold can rise better and prepare in advance for breaking through 3500! Gold bulls are ready to restart at any time after the retracement! So for short-term trading, I don’t think the gold retracement is a reason for weakness, nor is it a certificate for chasing short gold; on the contrary, I think the gold retracement is a good time to buy on dips; first of all, the support area we have to pay attention to is the 3410-3400 area, and the second must pay attention to the 3390-3380 area support. So in the next transaction, we might as well use these two support areas as defense and start to go long on gold in batches!
OANDA:XAUUSDLong
by Steffen_Schade
Gold will inevitably fall after risingGold has risen sharply due to the violent geopolitical conflicts and the surge in risk aversion. It once reached around 3445, but in the process of falling back, it only touched 3408 and rebounded again, stabilizing above 3400. It is obvious that due to the changes in fundamentals, the sentiment of gold bulls is high; although the upward momentum of gold near 3440 has weakened, there is no clear signal of peaking yet! For short-term trading, it is relatively difficult to participate at present. To be honest, I naturally don’t want to chase gold at a high level; but there are no more signals to support me to short gold for the time being. However, with the rebound of gold, the current short-term support below is in the 3425-3415 area, followed by the psychological support of the 3400 integer mark; and the short-term resistance above is in the 3455-3465 area, followed by the area near 3480. Compared with the profit and loss ratio, I prefer shorting gold for short-term trading, because gold has performed relatively strongly in the London market. Logically, gold will have the inertia to rise in the New York market, so I think gold may rise and then fall in the New York market, so my current plan is to try shorting gold starting in the 3455-3465 area. Because the changes in gold's fundamentals are more extreme and complex, you must set up SL when participating in transactions.
OANDA:XAUUSDShort
by Steffen_Schade
Stick to shorting gold and aim for the target area.Gold has not broken through 3400 after accelerating its rise, and the upper suppression effect still exists; currently gold is fluctuating in a narrow range below 3390, showing signs of stagflation to a certain extent. Therefore, the accelerated rise of gold is not for the short-term impact of 3400, but for a deep retracement, eliminating more scattered funds in the market by sweeping up and down. So in the short term, I think it is difficult for gold to continue to break upward under the suppression of the resistance area near the short-term high of 3402, but to test the lower support area of ​​3375-3365 before breaking upward. So I have shorted gold as scheduled according to the short trading plan mentioned above, and aimed at the lower target area of ​​3375-3365. At present, our short position has made a certain profit, but I still look forward to profiting from gold hitting TP! Let us look forward to gold falling back to the target area as expected!
OANDA:XAUUSDShort
by Steffen_Schade
Continue to short gold Gold rebounded from around 3315 and has now reached above 3340. According to the current structure, gold tends to rebound upward. But the characteristics of the recent market trends are also very obvious. Gold has risen with difficulty, but has retreated very quickly! Overall, there was no continuation in the process of long and short games, which was disorderly fluctuation. According to the current structure, as long as gold cannot break through the 3350-3355 area and the bulls have not completely gained the upper hand, gold still has the potential to go down and test the 3320-3310 area again. Therefore, for short-term trading, we should not chase gold too much, and we can still try to short gold with the 3345-3355 area as resistance.
OANDA:XAUUSDShort
by Steffen_Schade
1
Another try on the gold short tradeTo be honest, it was beyond my expectation that gold could continue to rebound above 3340. According to my original expectation, the upper limit of gold's rebound in the short term was around 3336-3338. However, gold has already touched around 3342 during the rebound, but because gold failed to close above 3345, I still advocate shorting gold in batches in the 3335-3345 area. Recently, both the long and short sides of gold have not continued, and the overall market tends to be volatile. In the short term, as long as gold does not break through 3345, gold still has a chance to retrace, which also means that the rebound is an opportunity for us to short gold, but with the rebound of gold, we need to moderately reduce the expectation of gold retracement, so for short-term short gold, our primary retracement target is in the 3325-3320 area. So for short-term trading, I think we can still try to short gold again!
OANDA:XAUUSDShort
by Steffen_Schade
Gold is expected to continue to fall to 3280 or even 3250In the short term, the operation of gold is completely in line with my expectations. I clearly pointed out yesterday that gold will encounter resistance in the 3330-3340 area and will at least retest the area around 3315-3305 again. At present, gold has rebounded slightly after retesting the area around 3302 and is trading around 3309. According to the strength of yesterday's rebound, gold did not effectively break through the 3300-3340 area. Gold is still weak in the short term, and the head and shoulders top structure is constructed in the 3328-3338-3328 position area in the short term, which suppresses gold to a certain extent and limits the rebound space of gold. After multiple tests, the area around 3300 may be more conducive to being broken. After gold has been under pressure and fallen many times, the current short-term resistance area has been reduced to the 3310-3320 area; so I think gold still has a good downward space in the short term, which may continue to 3280, or even around 3250. So for short-term trading, I think it is possible to consider continuing to short gold.
OANDA:XAUUSDShort
by Steffen_Schade
Rebound is a good opportunity to short goldGold gradually rebounded after touching 3295. The highest price has rebounded to 3338. Although the rebound has reached $43, the upward momentum is not strong during the rebound. Therefore, the current rebound cannot be confirmed as a reversal trend. Moreover, gold has not yet effectively broken through the 3330-3340 area. Gold is still weak in the short term. Gold still has the potential to fall after the rebound. It will at least retest the 3315-3305 area again. Therefore, there is no need to fear the rebound of gold for the time being. The rebound of gold is a good opportunity to short gold. I think gold will at least retest the 3315-3305 area again, and even exceed expectations to the area around 3280. Shorting gold is the password for profit in the short term!
OANDA:XAUUSDShort
by Steffen_Schade
Short Gold，gold is expected to test 3300 or even 3280 againAlthough gold is currently above 3310, it does not mean that gold has stopped falling and stabilized. As long as gold remains below 3330-3340, gold is still in a weak state, so I think the decline of gold may not be over yet. Judging from the current trend, I think gold will have to retest 3300 at least again, or even around 3280 before it will have a chance to stop falling and rebound. So for the grasp of short-term trading opportunities, I think you can consider shorting gold with 3330-3340 as resistance.
OANDA:XAUUSDShort
by Steffen_Schade
I still have a short position.Although gold has risen sharply to above 3380 due to the intensification of the Russian-Ukrainian conflict, it has not made a substantial breakthrough, and has not stabilized above 3380. The bulls are not determined, which also shows that the technical suppression in the 3290-3295 area above is still strong. If gold does not break through in one fell swoop, gold is likely to usher in a wave of retracement in the short term. Due to the fundamental impact of tariff issues and geopolitical conflicts, for short-term trading, we should not have too high expectations for the extent of the retracement for the time being, but it is expected to retrace to the 3365-3355 area. In terms of short-term trading, I still hold a short position executed near 3375, and I hope that gold can fall back and hit TP as expected. Trading strategy: Consider shorting gold in the 3375-3385 ​​area, TP: 3365-3355
OANDA:XAUUSDShort
by Steffen_Schade
Continue to short goldTechnical aspect: Although the ADP data release is a big positive for gold, the trend of gold is quite different. It only rebounded to around 3362 and then gradually fell back, which to a certain extent strengthened the effectiveness of the short-term resistance area of ​​3365-3375. For the time being, technical indicators alone cannot support gold to continue to rebound. After consuming a certain degree of bullish momentum, gold will continue to retreat. And I think 3340 will be broken, and even continue to the 3330-3320 area. So in terms of short-term trading, I still prefer to short gold. Trading strategy: Consider shorting gold in the 3360-3370 area, TP: 3345-3335.
OANDA:XAUUSDShort
by Steffen_Schade
Continue to short gold after the reboundTechnical analysis: Gold rebounded after hitting 3333 overnight. So far, it has reached 3361. However, it can be clearly seen from the rebound process that the rebound is not strong, so I think the rebound space may not be too high. In the short term, it faces resistance in the 3365-3375 area. The strong resistance above the 3390-3400 area still exists, so it may be difficult for bulls to make a major breakthrough in the short term; and the support area below in the short term is in the 3340-3330 area, and the important support is in the area around 3320; Trading strategy: Consider shorting gold in the 3365-3375 area, TP: 3350-3340
OANDA:XAUUSDShort
by Steffen_Schade
Buy gold, TP: 3355-3365Technical aspect: Gold stopped falling and rebounded after touching 3333. The highest price has only rebounded to 3353. It seems that the bullish potential is weak and the rebound is weak. However, the gold candlestick chart closed with a long lower shadow after touching 3333, proving that there is a certain degree of buying support below; if gold can maintain above 3340-3330 in the short term, gold bulls still have the opportunity to rebound to 3355-3365; From the perspective of morphological structure, as long as gold remains above 3330, the gold bull structure has not been effectively destroyed, and bulls still have the opportunity to counterattack. It also proves that the buying support below is effective, and the bottoming and rebounding structure is established in the short term, so we can still consider continuing to go long on gold in short-term trading. Trading strategy: Consider the 3345-3335 area as support, and try to go long on gold in small batches;TP:3355-3365
OANDA:XAUUSDLong
by Steffen_Schade
Under pressure in the short term, short gold after rebound!In the short term, gold has risen sharply under the simultaneous stimulation of tariffs and geopolitical conflicts, but it has gradually fallen back after reaching around 3392, and has not broken through the 3400 mark in one fell swoop, indicating that the bullish momentum does not have the potential to continue to rise for the time being, so it may still need a certain degree of technical support, so gold has a need to retrace in the short term; In addition, if gold continues to retrace, then there may be a structural form at the technical level that offsets the short-term double bottom structure support, so gold may also form a double top structure in the short term. The first thing we need to pay attention to is the resistance near 3370, followed by the resistance near 3390; and below we must first pay attention to the support near 3345, followed by the 3330-3320 support area. Trading strategy: 1. Consider continuing to short gold in the 3370-3380 area, TP: 3355-3345; 2. If gold first retreats to the 3345-3335 area and does not fall below this area, consider going long on gold; TP: 3360-3370
OANDA:XAUUSDShort
by Steffen_Schade