The daily trend has not changed, go long on pullback

Aug 11

#XAUUSD

Good morning, and a wonderful day. Last night we expected that if the 3390-3380 level below is effective, then gold will still have room to rise. After the morning opening, gold began to fall and adjust, reaching a low of around 3367, and the overall trend fell into a wide range of fluctuations. From a technical perspective, the daily moving average tends to converge upward, with the middle track located near 3357. Before it effectively falls below, the daily bullish trend remains unchanged. Paying attention to the 4H technical indicators, we find that the MACD indicator death cross with large volume tends to fluctuate and fall. In the short term, we should focus on 3380-3390 above. At present, we should focus on the support at 3350. If it fails to break through effectively, gold will rebound again. On the whole, it is recommended to go long when the price retreats to around 3360-3350 during the day, with the target at 3375-3385.

🚀 BUY 3360-3350
🚀 TP 3375-3385

Aug 11

Trade active

The current volatility in gold prices will inevitably make many people feel anxious due to the temporary floating losses in their orders. Often, at times like this, people are more likely to be led astray by all kinds of noise in the market and give up their own positions. This is exactly the situation that market makers are most happy to see.

When you are being induced to change your trading stance, the traps already laid by market makers are quietly being set in motion. Once you fall into these traps, market makers will reap your wealth without hesitation.

You should know that all profits in the market essentially come from the losses of others. Never dream of eternal profits, and never participate in transactions in retaliation because of temporary losses. This will only bring you more losses. There is still strong support below. Stay patient and stick to trading discipline, and it will eventually bring you ideal returns.