Has the trend reversed after gold surged and then pulled back?

Jul 6

Gold Price Trend Analysis: After a surge and subsequent drop in the Asian session, gold gradually stabilized and rebounded in the European session. Currently, on the daily chart, the price has broken through the previous resistance zone, and the short-term moving averages continue to point upwards, maintaining a slightly bullish trend. The key level to watch on the daily chart is whether there will be a pullback for confirmation before a second upward move. On the 4-hour chart, the price is currently consolidating within a high-level range. The intraday decline did not show continuity, and after a rebound in the European session, it is likely to continue its high-level consolidation trend. From the 4-hour perspective, after breaking through the previous consolidation range, gold has entered a sideways consolidation structure, with the price fluctuating repeatedly within the high-level range, indicating increased divergence between bulls and bears. The MACD histogram is gradually converging, indicating that the upward momentum is weakening but still remains in the positive range; the RSI is running around 60, indicating that the market is still in a relatively strong range but has not entered an extremely overbought state.

Looking at the 1-hour chart, after a short-term rebound, the moving average bands have not yet fully crossed. Therefore, at the beginning of the week, there is a possibility that the market will first pull back to test the support level. The key focus below is the struggle and retest of the 4120-4100 area of the moving average band. If it falls back below 4100 this week, then the rebound trend will be declared dead. Continue to watch the resistance level around 4170-4200, while on the downside, watch for a potential pullback around 4120-4100. In summary, the recommended trading strategy for gold is to primarily sell on rallies and secondarily buy on dips. The key resistance level to watch in the short term is 4170-4200, while the key support level is 4100-4140. Please keep up with the market's pace.

Jul 6

Trade active

Trading is never a complicated thing; what's complicated is human nature. The market changes every day, but what you really need to stick to is trading logic, risk control, and disciplined execution. I don't chase every fluctuation, nor do I get obsessed with predicting market trends. I only focus on waiting for opportunities that fit my trading system. There are no absolute bull or bear markets, only constantly changing trends. There are no absolute right or wrong trades, only whether you follow your own rules, respect the market, follow the trend, maintain your rhythm, replace emotions with discipline, and replace wishful thinking with execution. This is the most important meaning of trading.

Jul 7

Trade closed: target reached

The market is fair to everyone. Every candle, every fluctuation, and every opportunity is placed in front of all traders. What really determines the result is not the market, but the choice when facing the market. Some people make trading plans in advance and execute them decisively at key positions; some are influenced by emotions, miss opportunities in hesitation, and bear the price in impulse. The market cannot be controlled, but transactions can be planned; the market cannot be predicted, but discipline can be adhered to. In the long run, what really determines the height of the transaction is not one or two judgments, but stable execution day after day.