XAUUSD:Trading strategies for the new week

How was everyone's weekend?

Recently, whether the gold market rose from 2030 to around 2150, or returned from 2150 to 2130, and finally fell below 2000, the trend was extremely exciting. As an old trader, I like this kind of market very much. Do you like it too? ?

Back to the topic, stimulated by last Friday's NFP data, it fell below 2000, rebounded slightly near the close, and finally closed around 2004.

As far as the trend is concerned, short sellers now have an absolute advantage. As long as there is no excessively bullish news, i think it will go back to the 1974-1952 range.

During this process, there are several positions that you can focus on, including the resistance level 2013-2022 and the support level 1993-1986. Here is a reminder: when the support falls below, it will turn into resistance. usually, if you still can't break through after trying 3 times, basically, it can be determined that it is the time to go short.

Of course, this is not very certain. If the market is very extreme, it may not give three attempts in a short period of time. It cannot be ruled out that breaking news affects the technical form.

During the trading period of the week starting tomorrow, if you don’t know how to trade in order to obtain better profits with minimal risk, then I suggest mainly shorting as high as possible.

When trading in a rebound market, do not set an excessively large TP, and trade with the mentality of accumulating less and making more.

In the new week, I wish everyone good luck and make profits that make you happy.