MRKKYI

Gold, weekly trend line support

Long
MRKKYI Updated   
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
From the current rhythm of the market, leaving aside the more unexpected and uncontrollable institutional data, the regular rhythm is still maintained in the expected range to do oscillatory adjustment.
Yesterday's decline, after breaking the triple bottom, fell to the 1940 target position.
D antenna continuity down has been two days, after yesterday's single negative decline, in 1944-48 position began to oscillate, in the Asian market morning down to the position near 1936.

This trend requires vigilance:

1, in accordance with yesterday's single-negative decline, after the h1-hour line change is not a strong continuous negative, but oscillation, this situation market sentiment began to produce changes, not on the one hand bearish.
2, in the Asian market in the morning in line with the technical side down to 1936 and then pull up, why choose the Asian market in the morning, because the Asian market in the morning can use the least cost to do the repair of the market.
3, a substantial D antenna down for two consecutive days, has been in oversold, and did not fall below the 1930 weekly support position.

Today's market can not be treated as a completely weak trend: the

1, Asia rose, the European market fell, did not break the bottom of the previous 1936, the U.S. market rebound, the probability of this possibility exists today.
2, the day before yesterday's weak market, yesterday's weak market, plus today's Asian market fell to 1936, the overall decline of nearly 50 U.S. dollars. Note: did not fall below the weekly support trend.
3, according to the past, 2 consecutive days of decline, there is no drop below the situation, today may D antenna will close positive.

What needs attention now is:

The rhythm of the European market is now crucial, the European retracement is certain, it depends on the magnitude of the European retracement.

In short, in the time of Friday, beware of the black swan, out of the v-quote.

Below attention:
Resistance position: 1954-59-65
Support position: 1942-35-30
Trade active:
The resistance position of 1959 has taken effect and those who SELL near this position have now started to take profits.
Trade active:
Now you need to beware of a change in the U.S. market, which may rise, and now you need to pay attention to the support position of 1944-42 below.
Trade active:
As long as the 1942-44 position is not broken, gold will proceed higher.
Trade active:
As I said, the 1942-44 position was not effectively broken and can be BUY. including my tip to beware of the Black Swan, all of which was expected.
Trade closed: target reached
Trade active:
We have predicted in advance that the 1942 position will not be broken and can be bought. then later we will give a new strategy about next week.
Trade active:
And there are very clear explanations in my strategy articles that will help you find the logic of how the market works. Better help you to analyze this market.

🧑‍🏫If you are a beginner
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