After a sharp drop on Monday, gold prices saw a volatile rise on Tuesday and Wednesday, closing with small bullish candles. The rebounds on these two days were relatively limited, so for now, we can define them as a correction after a sharp drop. This correction isn't a trend reversal, but rather a brief respite after a sharp decline, reflecting a temporary balance of power between bulls and bears. The 5-day moving average is trending downward, indicating continued downward pressure on gold in the short term. Meanwhile, the 10-day moving average remains upward, suggesting that the previous upward trend in the medium term has not been fully broken. The death cross formed between the two is a key signal, signaling a divergence between short-term and medium-term trends, and increasing market uncertainty. The current moving average system is somewhat disorganized, lacking a clear alignment. In the short term, we should continue to monitor volatility, focusing on shifts in bullish and bearish forces during this period. For today's market, we should prioritize a rebound in gold. On the upside, focus on resistance near 3375-3385, marking the 0.618 golden ratio level during gold's decline from 3409 to 3331. On the downside, focus on support near 3330-3320.
Trading strategy: We recommend buying gold on a pullback near 3335-3320, with the target at 3350-3360-3370.
Trading strategy: We recommend buying gold on a pullback near 3335-3320, with the target at 3350-3360-3370.
Trade active
Once you enter the market, you must have the courage to fight it. Cowardice will only set us back further; only by moving forward courageously can we achieve what we desire. Trading is a tortuous journey, not a smooth one. I believe many people see the beauty of the outside world, only to wonder why the risks are always so high? It's because they don't see the reality clearly! We can't change market risks, but we can control them. Since entering this market, I have remained true to my original aspirations. Profits can only be achieved by controlling risks, but as long as we can seize opportunities diligently and adhere to the correct trading logic, we can quickly turn losses into profits. Without a sound system, one lucky break is a lucky break, and two lucky breaks are also lucky breaks, and ultimately, only losses await us!Trade closed: target reached
In this market, the fairest factor is the market itself. All investors face exactly the same market conditions. However, facing the same market fluctuations, everyone's choices are completely different: when the market continues to surge like waves, some people keenly seize opportunities, strike decisively after being fully prepared, and ultimately realize profits; while others retreat out of fear and are unprepared, and are caught off guard by the market impact. The market gives everyone equal opportunities, and the key lies in how to grasp them.
I will go all out for every cooperating friend. Once I trust you, I will speak with results. I don't promise huge profits, but steady profits. Many people have done it, and you can do it too.Free Witness Telegram https://https://Grouphttps://t.me/TP_Daniel1
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.
I will go all out for every cooperating friend. Once I trust you, I will speak with results. I don't promise huge profits, but steady profits. Many people have done it, and you can do it too.Free Witness Telegram https://https://Grouphttps://t.me/TP_Daniel1
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.