We will remain steadfast in our strategy of shorting on rallies.

Jul 8

Gold Price Analysis: Yesterday, gold experienced a standard rally followed by a pullback, reaching a high of around 4180, which formed strong resistance. After the bullish momentum weakened, the price continued to decline. Although there was a slight rebound during the European and American sessions, the rebound was weak and failed to break through the intraday support level. Towards the end of the session, the bears exerted renewed pressure, pushing the price below the key support level of 4135 and accelerating its decline to a low of around 4092. The daily range was nearly $90, and the daily candlestick closed at 4105 with a large bearish body. The long upper shadow combined with the large bearish body clearly reflects heavy selling pressure above, indicating that the short-term bullish rebound has come to an end, and short-term bearish sentiment is rising in the market.

On the daily chart, yesterday's bearish candlestick completely erased the gains of the previous two days. Short-term moving averages have turned downwards, forming resistance, and 4180 has completely transformed from support into strong resistance. The candlestick chart shows lower highs and lower lows, indicating that the short-term trend has officially entered a weak correction phase. The first key support level is the low of 4092. If this level is broken, the downside potential will open up to the 4070-50 range. For the bulls to regain control, they must return to and hold above 4170. The continuous decline in the 4-hour timeframe has caused the Bollinger Bands to widen downwards, and the MACD bearish histogram continues to expand. The rebound is merely a technical correction and lacks the basis for a reversal and strengthening. Each small rebound is accompanied by selling pressure, which is a typical continuation pattern in a downtrend. Short-term trading should focus on selling on rallies when prices are under pressure. The hourly chart shows a slight sideways movement at a low level, with oversold indicators suggesting a slight need for correction. A small rebound is expected during the day, but its extent will be limited. The short-term support/resistance level is locked at 4140. If the rebound fails to break through this level, the downtrend remains unchanged. If the rebound holds above 4170, the market will switch to a wide range of fluctuations between 4090 and 4180. Gold prices fell sharply after breaking below $4,140, and that level has now become short-term resistance. If the rebound fails to effectively recover the $4,140 area, the market is still likely to test $4,090 or even lower levels. In summary, the recommended short-term 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 4140-4160, while the key support level is 4090-4070. Please stay tuned.

Jul 8

Trade active

The primary principle of investing is to avoid risks. If you can't avoid risks, no matter how much money you make, you'll eventually lose it all. Everyone has their own way of succeeding, and investment trading also has its principles. Accumulating small gains into large ones and using small losses to achieve big profits is the essence of trading. However, many people forget their original intentions, focusing on immediate profits while ignoring risks. Many people don't realize that individuals are very fragile and insignificant in this market. If you don't know how to avoid risks, you're like a small boat sailing on the ocean, which can be capsized by the wind and waves at any time.

Jul 8

Trade closed: target reached

The key to trading lies not in the gains from a single trade, but in the execution of your plan and risk management; only by sticking to your bottom line can you have the last laugh.