XAUUSD:17/10 Today’s Trading Strategy

International gold expanded and fell back on Monday to maintain a volatile trend. On Monday morning, the price of gold continued to fluctuate downward from the 1929 line. The gold price dropped to a low of 1908 and then fluctuated higher. During the U.S. session, the gold price reached a maximum of 1924 and then gradually stabilized and closed above 1919. The shadow line below the daily line ends with the long negative line. The current gold price stabilizes below the pressure level of the daily 200-day moving average. The overall daily moving average shows a narrowing shape and maintains a volatile trend. Judging from the shape of the 4-hour cycle chart, gold prices continue to be in a bullish upward trend stage with rising highs and lows. On the daily and 4-hour levels, gold prices have clearly deviated too far from the moving average, and there is a need for a correction. The price of gold has fluctuated and fallen from above the 1930 mark, and has now fallen below 1920. In the short term, we can look at the 1905-1908 support;

Gold is currently maintaining a high level of shock on the 4-hour level, and the current price is temporarily under pressure in the 1925 area. The short-term moving average began to gradually turn around and diverge downward. In the short-term trend, there is a high probability that it will continue to maintain a high and volatile trend. The hourly level gold has now begun to fluctuate at a high level. The range is temporarily maintained in the range of 1907--1925. Before falling below 1900, the bulls will rise. The trend remains unchanged, and it is normal for the market to fluctuate after a sharp rise!

The gold hourly line has a short-term negative decline, and the continuous negative downward trend indicates that gold cannot rise. This is an iron fact. In addition, the Palestinian-Israeli conflict has cooled down, and the downward trend of gold prices is inevitable. At the same time, it has been repeatedly emphasized that the K-line deviates far from the moving average, which is abnormal. , the gold price is currently approaching the 50 moving average, and continues to look downward. Today, the boundary between long and short strength continues to focus on the 1930 mark. The daily level has not broken through and stood at this position before continuing to maintain suppression and adjustment shocks. The intraday support focus on around 1905-1908 , the upper pressure area 1925-1930

SELL:1928-1930
SL:1936
TP1:1925
TP2:1920
TP3:1915

BUY:1903-1906
SL:1898
TP1:1910
TP2:1915

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Comment:

The gold analyzed this morning rose to 1928~1930 for sale, and now it has arrived accurately, with a profit of 80pips at 1920TP, and profit for 10 of the 11 trading days this month

Comment:

1924 purchase hits TP again, today’s BUY/SEL profit is 130~170pips

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Hope we continue to have good luck today