The idea remains unchanged during the NY period. Although gold has currently reached a high of around 3348, it has not stabilized above it. If gold successfully breaks through 3350 in the short term, it may reach 3360 or 3365. In the 4H cycle, it presents a step-by-step upward pattern. The K-line is temporarily fluctuating sideways near the upper track. At the same time, 3345 has formed a double top pattern. Combined with Thursday's low of 3310, an inverted triangle oscillation range of 3345-3310 is formed in the short term. This week's trend needs to pay close attention to the breakthrough direction of this range. Short-term long positions can be taken after the trend is confirmed.
XAUUSD@3330-3320 long TP 3345-3365
XAUUSD
XAUUSD@3330-3320 long TP 3345-3365
XAUUSD Trade active
In the short term, gold has broken through 3350. Judging from the 4H chart, the short-term bullish trading trend will remain. We have no problem sticking to the long position. We can always trust the wolf's sense of smell. This wave of long position is another piece of meat we have eaten in the market.Note
The bullish trend remains unchanged, but it will be difficult to fall back to 3330. If it falls back to 3340, you can consider going long.Trade closed: target reached
Gold hit the TP perfectly and rose to 3365 as expected. At the same time, the inverted triangle range has been broken, and short-term long positions are in place. The current high level is not suitable for continued trading as there are certain trading risks. A stable approach is to wait for a pullback to around 3340 before going long. But today is Friday, so be careful when trading
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📊Immersed in the trading market for many years, with professional analysis and guidance🎯the average account doubled within 2 weeks🤑. Be a wolf hunting in the trading market🐺never let go of the prey👇 join my wolf pack to get free signals👇
Related publications
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.