As long as the gold price is above 3400, continue to go long.As long as the gold price is above 3400, continue to go long.
As shown in Figure 4h.
I clearly show the trend of gold prices through the split chart.
1: The ABC span forms the golden ratio, indicating that if the gold price continues to rise out of control in the future, it will rise to the range of 3700-4000.
2: The blue triangle angle is a convergent triangle in the upward trend, which is a strong triangle. The probability of bullishness next week is high, and the possibility of breaking through and returning to the range of 3450-3500 is very high.
3: We need to consider the most unlikely possibility, that is, the worst expectations and results.
If the gold price breaks through 3450 and it is a false breakthrough, there may be an expectation of a sharp decline: 3365-3330-3270.
Operation strategy:
As shown in the figure:
1: Pay attention to the 1-2 path and defend the 3-4 path.
2: Wait for low prices to find long opportunities
3: As long as the gold price is above 3400 points, only participate in the long strategy.
4: Gold price fluctuation range: 3400-3450
5: Two test pressure areas for intraday short-term short selling: 3450 and 3500
6: Strong support area: 3400--3365--3330-3270, these points can be used as support points and stop loss ranges for future attempts to go long.
