XAUUSD:Short term trading strategy
In the past two days, gold has been in a narrow range of fluctuations. In the short term, the trend is indeed not obvious, and both long and short are entangled. Then we can analyze the trend of gold from the side of the US dollar index:
The obvious five-wave rise in the U.S. dollar is over. According to the wave theory, it is basically a five-wave + three-wave trend.
At present, the five waves have finished, and then there will be a downward trend of three waves abc.
Moreover, the Sequence 6 signal is also present here in the current 4 hours, which will increase the possibility of the US dollar continuing to correct.
So if the US dollar is going to come down, gold will definitely maintain a high level and consolidate.
Judging from the golden 1-hour chart:
Gold is obviously a rising flag here, and the bottom is rising step by step.
Moreover, the upper pressure point is obviously getting higher step by step.
Judging from the current trend line, the top of gold’s upper range is currently around 2185.
Therefore, you cannot go short directly at the short-term level. On the contrary, you should start to consider going long.
The short-term trading strategy: you can almost go long near 2170, take yesterday's Monday low as a defensive position, and look above to near 2185.
If you need precise strategies, please contact me directly and follow me. Trading is that simple.
The obvious five-wave rise in the U.S. dollar is over. According to the wave theory, it is basically a five-wave + three-wave trend.
At present, the five waves have finished, and then there will be a downward trend of three waves abc.
Moreover, the Sequence 6 signal is also present here in the current 4 hours, which will increase the possibility of the US dollar continuing to correct.
So if the US dollar is going to come down, gold will definitely maintain a high level and consolidate.
Judging from the golden 1-hour chart:
Gold is obviously a rising flag here, and the bottom is rising step by step.
Moreover, the upper pressure point is obviously getting higher step by step.
Judging from the current trend line, the top of gold’s upper range is currently around 2185.
Therefore, you cannot go short directly at the short-term level. On the contrary, you should start to consider going long.
The short-term trading strategy: you can almost go long near 2170, take yesterday's Monday low as a defensive position, and look above to near 2185.
If you need precise strategies, please contact me directly and follow me. Trading is that simple.
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