Trading-Sta

The latest strategy analysis and operation of gold this week

Long
Trading-Sta Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar



We have already made a profit on the empty orders in front of gold. Gold fell again after the low and weak shocks yesterday. A small shade. Today we see six consecutive negative lines falling to the low point of 1972 from the hourly line


From the perspective of the daily line structure, yesterday's decline in gold continued the influence of Tuesday's big negative line, confirming the downward trend at the band level. In addition, gold's decline this week is also closely related to the continued strength of the U.S. index. According to the daily structure of gold itself and the status of the U.S. index, gold may continue to have a certain inertia in the short term, but it will not be too large. Combined with the status of the daily line and the hourly chart, gold may rebound to a certain extent today , but the kinetic energy is not expected to be very large, and the resistance in the 1990-1993 area above is still relatively strong. At the bottom of the day, we will continue to pay attention to the 1975-1970 area. Since the market has touched this area, the probability of the market retracing this position within the day is relatively weakened. We need to be more cautious in today's operations, mainly because gold and the US index may enter short-term positions. The timing of the change, and the frequent speeches of Federal Reserve officials today and tomorrow, the uncertainty believes that the risk of interference is high. In terms of short-term gold operation ideas today, it is recommended to do more callbacks, supplemented by short rebounds. The top short-term focus is on the first-line resistance of 1998-2000 , the short-term below will focus on the first-line support from 1970-1975, and friends must keep up with the rhythm.

Gold rebounded around 1995-1998 and shorted in batches, stop loss 5 points, target around 1985-1980, look at the 1975 line

Gold pulls back around 1973-1975, do long in batches, stop loss 5 points, target around 1985-1995, look at the 2000 line if you break the position

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