At present, the market has been fluctuating narrowly in the range of 3330-3320, and both bulls and bears are in a stalemate. However, gold has formed a double-layer head and shoulders bottom pattern, so the short-term bullish trend is definitely unchanged. In the previous post, I also mentioned that if the rebound in the European session is weak and gold continues to be below 3345, then the short-term NY session may usher in a retracement and a second bottom. Therefore, I still hold a long order of 3325-3315, and temporarily modify the TP to the 3335 line. I expect that there may be a retracement here, but there may also be a direct retracement. No matter what the situation is, we need to stabilize before entering the market.
In addition to investment, life also includes poetry, distant places, and Allen. Facing the market is actually facing yourself, correcting your shortcomings, facing your mistakes, and exercising strict self-discipline. I share free trading strategies and analysis ideas every day for reference by brothers. I hope my analysis can help you.
XAUUSD XAUUSD XAUUSD XAUUSD XAUUSD GOLD
In addition to investment, life also includes poetry, distant places, and Allen. Facing the market is actually facing yourself, correcting your shortcomings, facing your mistakes, and exercising strict self-discipline. I share free trading strategies and analysis ideas every day for reference by brothers. I hope my analysis can help you.
XAUUSD XAUUSD XAUUSD XAUUSD XAUUSD GOLD Trade active
As I expected, gold retreated directly, and began to rebound after hitting the lowest point near 3287. I have closed the 3325-3315 order and re-executed the long order near the 3290 line below. In the short term, 3321 has become the watershed between long and short positions. As time goes by, the medium-term point can be seen towards 3345. Only when the price stands above 3345 can the upward momentum continue.Note
I have closed the long trade executed near 3290 below near 3305. When gold retreated to 3300 again, I still seized the opportunity to choose to go long again and set the TP near 3310. At the same time, I also expressed my opinion that the short-term watershed is at 3321. As long as this point is not effectively broken, there is still a chance to go short.
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Engaged in trading for many years,with an accuracy rate of up to 90%🏅If you want to get guidance from professional mentors and get free trading signals📈we can answer any questions you have as soon as possible👇Seize the opportunity to seize profits👇
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.