At present, the suppressing point ma120 moving average above the hourly chart is near the 2000 mark, followed by the ma60 moving average suppressing here at 2005.
Therefore, there is very little room for gold to continue to rise today. Either it rebounds to around 2000 yesterday's high and then comes down, or it pierces yesterday's high to go to around 2005 and then comes down.
I am currently inclined to rebound to around 2005, because if we look at it from a 4-hour perspective, we can regard the wave of decline from 2032 to 1980 as a wave.
At present, the rebound since 1980 is assumed to be wave B, so how do we determine the high point of wave B?
We can see the 4-hour lower trend chart, and the lower trend line support is almost here at 1956-60.
If 1956-60 is regarded as the bottom of wave c, then the high point of wave b can be easily calculated, and there is a high probability that it will be around 2005.
So in terms of today's operation, I suggest that you can enter the market and short at 2003-05. The target below is first at 1980, and then at 1956-60.
2003-2005 sell
TP1:1980
TP2:1956-1960
GOLD
XAUUSD
Therefore, there is very little room for gold to continue to rise today. Either it rebounds to around 2000 yesterday's high and then comes down, or it pierces yesterday's high to go to around 2005 and then comes down.
I am currently inclined to rebound to around 2005, because if we look at it from a 4-hour perspective, we can regard the wave of decline from 2032 to 1980 as a wave.
At present, the rebound since 1980 is assumed to be wave B, so how do we determine the high point of wave B?
We can see the 4-hour lower trend chart, and the lower trend line support is almost here at 1956-60.
If 1956-60 is regarded as the bottom of wave c, then the high point of wave b can be easily calculated, and there is a high probability that it will be around 2005.
So in terms of today's operation, I suggest that you can enter the market and short at 2003-05. The target below is first at 1980, and then at 1956-60.
2003-2005 sell
TP1:1980
TP2:1956-1960
GOLD
XAUUSD
Trade active
Trade active:
2003 sell
Trade active
