XAUUSD:13/11 Today’s Trading Strategy

During Monday's Asian trading session, the price of spot gold continued to be under pressure, with the current gold price around 1,939. Last Friday, spot gold dropped sharply by $20.38, or 1.04%, at the close, with the final closing price being 1938.07. From the instant breakdown in early trading to the rapid recovery of 1918, the price of gold has now fallen below multiple support levels at the daily level. At the same time, the trend of the K-line continues to be suppressed by the short-term moving average, showing a volatile downward trend. Then gold's downside space on the daily level may not be fully released yet. At present, we need to pay close attention to the pressure in the price range of 1943-1945. If this pressure level cannot be effectively broken, the price of gold may continue to fall.

Over the last week, gold prices have continued to fall and fell below new lows, and the bearish trend remains very strong. If gold prices continue to rebound and rise, the resistance level of 1944-1947 will put greater pressure on bulls. At the same time, it is calculated that the upper long-short dividing line is located at 1954. Before the gold price fails to break through this level, the downward trend of gold will not change. The lower support level focuses on the 1930-1920 area.

Comprehensive analysis: After gold plummets, the market may experience a volatile range. However, if the breakout to the upside cannot continue, then the bearish trend will continue. Therefore, today's operation strategy is mainly to consider rebound short selling, supplemented by long low position.


SELL:1944~1947
SL:1951
TP1:1938
TP2:1932

BUY:1929~1931
SL:1927
TP1:1935
TP2:1938

Trade active

Trade active:

Hope we can see each other in 1920,Gold has continued to fluctuate at the opening today. The 1940 position should not be the short-term bottom. Gold should break through to new lows. Once the downward breakthrough is opened, the price will drop by at least 20$,