Gold can be said to be rather naughty today, Monday. It surged at the opening, hit the highest point of 3250 and then fell back to the lowest point of 3206. Many people in the market chased long positions at the highs of 3240-45. I believe the ending is also quite regrettable. Friends who follow me know that the 3240-53 above are all ideas for shorting. Don't chase long positions at high positions. After all, the important suppression of 3253-60 has not been broken. We shorted at 3230 and then covered our short positions near 3247. We have already taken all the profits out at 3234 and put them in the bag safely.
From the 4-hour line analysis, the lower support continues to focus on around 3170-75, the strong support is at the 3150 mark, and the upper pressure is around 3253-60. Relying on this range as a whole, the main tone of high-altitude and low-multiple cycles remains unchanged. In the middle position, watch more and do less, be cautious in chasing orders, and wait patiently for key points to enter the market.
1. Gold rebounds to 3253-60, short, stop loss 3266, target 3275-80, continue to hold if it breaks;
2. Gold falls back to 3170-75, long with light position if it does not break, fall back to 3150-55, long with cover position, stop loss 3144, target 3226-3230, continue to hold if it breaks
From the 4-hour line analysis, the lower support continues to focus on around 3170-75, the strong support is at the 3150 mark, and the upper pressure is around 3253-60. Relying on this range as a whole, the main tone of high-altitude and low-multiple cycles remains unchanged. In the middle position, watch more and do less, be cautious in chasing orders, and wait patiently for key points to enter the market.
1. Gold rebounds to 3253-60, short, stop loss 3266, target 3275-80, continue to hold if it breaks;
2. Gold falls back to 3170-75, long with light position if it does not break, fall back to 3150-55, long with cover position, stop loss 3144, target 3226-3230, continue to hold if it breaks
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Gold bull trend has been determined? Don't guess the top! Trend trading is the core. If you need help, you can contact me and I will help you.
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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.