Gold has been up and down this week, and the shock wash has intensified. It bottomed out and rebounded at 3282, and then steadily pulled up. After a slow rise to 3368 on Friday, the retracement was limited, and finally closed at 3355. So can gold be expected to be strong? Is it possible to reach 3400 next week? From the trend point of view, it is too early to say that it will turn strong. 3400 is an insurmountable barrier. Only by breaking through 3400 can we see a stable strong bull. If it is suppressed below 3400, the bulls will not be stable and may fall back at any time. We can only see large range fluctuations. From the overall trend point of view, gold is currently fluctuating widely in the large range of 3250-3400. It is safe to buy below 3300, and it is easy to go up. After all, it is still upward in the long run. Next week, we will focus on the gains and losses of the 3400 mark. It is not recommended to chase the high position directly on Monday. On the one hand, the interruption of the market after the weekend holiday can easily cause discontinuous rise. In addition, after three consecutive positive lines on the daily line, there will either be a negative correction and a fall, or a large positive volume. Combined with the current trend and rhythm of gold, be careful of a high-rise fall, and it is easy to get trapped by chasing long positions at high positions. Don't feel that it will soar as soon as it rises, and the high point of 3500 seems to be within reach; don't feel that it will fall sharply as soon as it falls, and the 3000 mark is not a dream. We should stay away from those who sing long when it rises and sing short when it falls. The direction is not because you see it, so you believe it, but because you believe it, so you see it. There will always be a time when you chase the rise and sell the fall and you will return with nothing.
Moreover, the high point of 3365 has not formed a substantial break and stabilized. On Monday, we still need to focus on the gains and losses of this position, so we need to look at it from two aspects:
1. If it rises directly at the opening, pay attention to the pressure near 3370-3380 and you can go short, and the target is 3350-3340!
2. If the market falls back at the opening, go long around 3340-3330, with the target above the high point of 3360-3368.
Moreover, the high point of 3365 has not formed a substantial break and stabilized. On Monday, we still need to focus on the gains and losses of this position, so we need to look at it from two aspects:
1. If it rises directly at the opening, pay attention to the pressure near 3370-3380 and you can go short, and the target is 3350-3340!
2. If the market falls back at the opening, go long around 3340-3330, with the target above the high point of 3360-3368.
Trade active
Gold prices fluctuated this week. It first bottomed out near 3282 and then gradually fluctuated upward. It reached 3368 on Friday and finally closed at 3355, showing a certain resistance to decline. But does this mean that gold has entered a strong bull market? I think the conclusion still needs to be cautious. At present, gold is still running in the large range of 3250-3400. 3400 is a typical suppression barrier. Before it breaks, the bull market is still difficult to say that it is stable. From the daily line structure, after three consecutive positive days, the market will either accelerate the upward attack to form a trend, or the upward attack will be weak and there will be a correction. In terms of the current technical structure and fundamental rhythm, the latter is more likely, especially since Friday's high of 3368 has not stabilized, reminding us to be vigilant against the high and fall.The key judgments are summarized as follows: the current shock pattern has not changed, and it is best not to blindly chase high positions; the long and short rhythms still need to be combined with the structure and position dynamic adjustment; the daily line closes, and the upward space may be limited; 3400 is still the "ceiling" before the bulls break through, and the market has not yet turned to pure bull dominance.
In summary: Although gold has rebounded, it is far from entering a strong stage, and emotions cannot run ahead of the rhythm. For those who are not sure about the direction of next week, it is recommended to read this summary first to understand the overall market structure, and then implement it in combination with the content of my previous strategy. Don't blindly chase orders. If the rhythm is wrong, your account will be educated by the market.
Trade closed: target reached
The trend of gold is as shown in the trading plan. Gold opened slightly higher and slowly moved up to the 3375 level where it was blocked. The technical suppression was obvious and the short strategy was accurately triggered. It has now entered the profit release stage. The overall operating rhythm is highly consistent with expectations. The strategy is forward-looking and well-executed. The logic of steady trading has been verified again. This is the basis for early layout and the reason why we are already reaping profits while you are still hesitating. Opportunities never wait for anyone. If the rhythm is right, profit is only a matter of time.If you do not have the ability to respond flexibly to the market in your transactions, and are not good at adjusting your trading thinking and rhythm in a timely manner according to the market rhythm, you can pay attention to the bottom notifications for more specific operational details and strategy updates. Let us work together to flexibly and stably pursue more profits in the ever-changing market!
I treat every partner with my best efforts. I do not promise huge profits, but only pursue replicable and stable profits. Many people are already on this path, and you can too.Free witness telegram group 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 treat every partner with my best efforts. I do not promise huge profits, but only pursue replicable and stable profits. Many people are already on this path, and you can too.Free witness telegram group 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.