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Goldtechnicalanalysis

Bulls vs. Bears:Who Will Control the Next Move?Gold barely held the support level of 4050-4040. In addition, under the influence of CPI data, the market bet that the Federal Reserve would cut interest rates twice more this year. Gold rebounded from 4045 to around 4135, which was a shot in the arm for the bulls! Judging from the short-term rise and the market's strengthened expectations of a Fed rate cut, the bulls are eager to try again. Of course we must respect the market price behavior. We can clearly see from the current candlestick chart that in the short term, gold has formed a triple bottom structure near 4001, 4011 and 4043, which effectively offset the suppressive effect of the triple top structure formed in the 4378-4382 area. Therefore, the bulls now have the conditions to compete with the bears. However, according to the market atmosphere, bullish sentiment has just recovered, so the current bears still have a certain advantage, and this advantage will increase the intensity of fluctuations in the gold market, resulting in a wide range of sweeps in the short term. Judging from the current structural pattern, gold will still be under pressure in the 4140-4160 area in the short term. Without more major positive news, it may be difficult for gold to easily break through the resistance in this area in the short term; and as gold rises after building a triple bottom support, the short-term support will also move up to the 4080-4060 area. Therefore, we need to pay close attention to short-term support and resistance areas: 1. If gold continues to rise in the short term and reaches the 4140-4160 resistance area, we will prioritize shorting gold. 2. If gold first retreats to the 4080-4060 support area, we can try to buy gold in small quantities around this support area.
OANDA:XAUUSDShort
by XAUSniper_Steffen
1
Beware of Black Friday as gold prices fall againOn Friday, the Asian session reaffirmed the upper resistance level of the channel at 4142-4144, further declining to 4081. Can this trend continue, with the market holding highs and breaking lower, and breaking through the lower double-line on the hourly chart, the next support area to watch is the lower channel at 3990-3980. The 3980 area is what we call the target point, representing a gap of exactly $400 compared to the historical high of 4380. The hourly chart is sweeping the double-line range, with a breakout further opening up the market. The upper channel is slightly further away at 4180, while the lower channel is getting closer. In the 4035 range Support and resistance levels are shifting. If the market breaks below the lower double-line at 4035, the next target is the 4014-4004 low. The next target is the lower channel line, and breaking through it will continue the trend. Holding highs is key, and breaking lows is crucial. Although the market fluctuates greatly, each initial move follows its own pattern. Starting an uptrend, holding lows and breaking highs, holding lows throughout the process, and continuing the bullish climb. Starting a downtrend, holding highs and breaking lows, holding highs throughout the process, and continuing the bearish decline. To summarize, two points: 1. Maintain a cycle Regarding the rhythm of the decline, the area around 4100 should be considered as the dividing line. Looking down, we should look to the 4080 area. A break below this level could lead to further trading volume (don't expect a large rebound to confirm resistance). 2. A wide-ranging sweep, with the high of 4144 as a defensive measure, requires considering the 4133-4135 area, and then looking for leverage to complete a break below the lower low (this rebound will be more powerful, requiring additional attention to the highs). Thus, regarding the future gold price, we should refer to the above-mentioned approach. First, the 4144 high should be used as a defensive measure. Here, we should consider the 4133-4135 area, and then look for leverage to complete a break below the lower low (this rebound will be more powerful, requiring additional attention to the highs). Pressure around 00: A slow decline is needed to break the lows. Time is used to buy space to find the lower band of the channel. First, pressure at 4135 represents a correction. A break above 4080 will be leveraged to move lower, followed by a large-scale decline. Focus on gains and losses at 4080. If it breaks below, the next target is the lower double line at 4035. Breaking through this level will lead to lower points at 4014-4004. Finally, focus on the lower band of the channel at 3990-3980. Note: A break above this high will indicate a change in the nature of the market. Clearly define your defenses, establish your strategy, implement risk control measures, and strictly enforce them.
TVC:GOLDShort
by AnalystDavid_
4100 Crumbles !!!Gold Could Drop Another $100!After gold rebounded to the area around 4155 yesterday, the rebound high point is gradually decreasing. It is still the main field of the bears. The rebound in the short term has obvious signs of pulling up shipments, so the rebound sustainability is not strong, and the decline of gold in the local structure is more eye-catching! From the perspective of the pattern structure, gold remained below the bearish wedge in the short term, and after being suppressed by the bearish wedge, it once again formed a descending triangle in the short term. Under the suppression of the dual technical pattern structure, gold still has room to continue to fall, and it is possible to test the support area near 4000 again, and it is even expected to continue to the 3990-3980 area. Gold has now fallen below the 4100 mark, and the market's bearish outlook will be further amplified. Any rebound in the short term will be a good opportunity to short gold. Therefore, in short-term trading, you can consider shorting gold appropriately when it rebounds to the 4095-4105 area, first aiming at the retracement target: 4060-4050.
OANDA:XAUUSDShort
by XAUSniper_Steffen
Bulls May Defend the 4110–4100 Zone! A Counterattack Is BrewingAs expected, gold reached the 4120-4110 area during the decline, and the bears are relatively in an advantageous position. However, we can also clearly see that since gold started the 4000 defense battle, although gold was once weak, it still adhered to its bottom line during the defense process. Therefore, even if the bears currently have the upper hand, it is difficult for them to cross the line! From the short-term, we can clearly see that gold has tested the 4110-4100 area three times, and has shown good rebound performance after touching this area. As it has failed to break through the 4110-4100 area many times during the retracement process, this area has become a key stronghold and lifeline for the bulls' defense. The bulls may launch a series of counterattacks with this area as the core. Therefore, in the short term, we might consider using the 4110-4100 area as support to try to go long on gold, initially aiming for a rebound target area of 4125-4135.
OANDA:XAUUSDLong
by XAUSniper_Steffen
The Bears Are Warming Up!Gold Faces Renewed Downside Pressure!Gold maintained its rebound momentum during the day, and currently has rebounded to around 4155. However, we can clearly see from the rebound process that the rebound of gold is relatively lacking in strength, and in the local structure, the decline of gold is more eye-catching! Judging from the current structure, gold is currently in a falling wedge structure, and even if it continues to rebound during the day, it still remains below the first rebound high of 4161, and even failed to break through 4155 during the rebound. This is enough to prove that the current bullish force is still insufficient. Overall, gold is under pressure from the double top structure and the double neckline around 4185. Until gold reclaims 4185, it will remain weak overall. Primary support lies below the lower edge of the falling wedge pattern, around 4128. However, this area is relatively weak and could be broken at any time. Short-term support lies below, in the 4120-4110 area, followed by 4080-4070. If gold continues to maintain its downward pressure from the falling wedge pattern, it is likely to test these two support areas. So in the short term, we can appropriately consider starting to short gold in the 4160-4170 area. First, aim for the retracement target area of 4130-4120.
OANDA:XAUUSDShort
by XAUSniper_Steffen
Weak Bulls, Strong Bears! The Perfect Moment to Short Gold!Let me start with the conclusion. I've been shorting gold in the 4145-4155 range according to the trading plan in the previous article. Why do I insist on shorting gold, and what are my reasons for insisting on shorting gold? 1. After a sharp decline in gold prices, market bullish sentiment has yet to fully recover. Lack of bullish confidence has led to insufficient liquidity, potentially making it difficult to sustain a sustained gold rebound. 2. After gold fell from around 4381 to 4004, its first rebound high was near 4161. However, even during its ongoing rebound, gold has not been able to reach the 4160 area, and has not yet broken through the 4155 area. The rebound momentum is relatively weak. 3. In the short term, gold has successfully formed a falling wedge pattern within its technical structure, and has repeatedly encountered resistance and retreated at the upper edge of the pattern. The effective suppression of the falling wedge structure suggests that gold still has considerable room for a short-term pullback. 4. Even amidst recent geopolitical tensions, supported by a certain degree of risk aversion, gold's rebound momentum remains weak, and the market is in a strong bearish mood. 5. Support below has yet to be verified, and its effectiveness needs to be tested and validated. A short-term retest of support is necessary. These are the five reasons why I'm sticking with my short position on gold! Now all we have to do is patiently wait for profits to expand and pocket the gains!
OANDA:XAUUSDShort
by XAUSniper_Steffen
Gold’s Rally May Be a Setup! Smart Money Is Selling the Highs!At present, the short-term direction of gold is not obvious. Although it is moving upward, the rebound is not very strong. So far, it has not broken through the first high point area of 4161 built by the rebound after the decline, so the overall performance is still weak. Under the current market conditions, even if gold rises due to the self-rescue behavior of some bulls, the upward space is expected to be limited. It is expected to maintain a wide range of fluctuations in the 4080-4160 area to repair market sentiment. During the repair process, I suggest that it is best not to blindly chase the rise in gold just because of the rise in gold. After all, it is necessary to prevent some bulls from spontaneously self-rescue and then push up shipments. Therefore, the resistance area that must be paid attention to first is the 4145-4155 area, followed by the 4175-4185 area. It is estimated that according to the current market conditions, gold may find it difficult to reach the resistance of the 4175-4185 area; and the support area below is the 4090-4080 area after gold rebounds. The second thing we need to pay attention to is the 4040-4030 area. Therefore, for short-term trading, we can start shorting gold after the rebound of gold by relying on the resistance of the 4145-4155 area, first aiming at the short-term retracement target of the 4100-4090 area.
OANDA:XAUUSDShort
by XAUSniper_Steffen
10, 23 gold is still expected to fall!!!This week, gold hit $4380 for the second time before retreating, forming a double top. The upward rebound was interrupted by a break below 4293. A break below the previous low of 4186 marked the first time a secondary decline has occurred, breaking the previous correction pattern. Previous declines have not resulted in a secondary break below the previous low, let alone a downward extension. Therefore, this time represents a shift in rhythm, a pause in the bull market, and a period of rest and consolidation. The bull market needs rest! Short-term, yesterday's Asian session rebounded, reaching 4161 before retreating around 2:00 PM. Today, we will focus on the overnight rebound high of 4118 and the 2:00 PM timeframe. Specifically, relying on the resistance at 4118, we can short in the European session and continue to watch for a decline. Specifically, keep an eye on the resistance at 4118 and consider shorting when the time is right.
TVC:GOLDShort
by AnalystDavid_
1
10.22 Gold continues to correctAfter forming a double top early Tuesday morning, gold has been experiencing resistance during Tuesday's Asian session, signaling a potential Waterloo. As of Wednesday's Asian session, gold hit a low of 4004 before rebounding above 4100, a bullish consolidation. Gold is currently trading in a range-bound environment. We continue to monitor the 4147-50 resistance level, which also marked the resistance level at midnight Tuesday. Gold prices retreated after hitting this resistance level several times last night. During the day, we will monitor the upward resistance level. If gold fails to break through, we will maintain a volatile trading strategy. We will prioritize shorting within this resistance level. From the 4-hour chart, we are currently focusing on the 4147-4150 resistance level for the upside, while the -4085-4100 support level is expected to remain. If bulls fail to break through, gold will likely continue its range-bound correction. Trading strategies should prioritize trading within this range. In the intermediate range, we should be cautious about buying orders and wait patiently for key entry points. I'll provide detailed trading strategies during the trading session, so please stay tuned. Gold Trading Strategy: 1. Short gold with a light position at 4147-4150, stop loss at 4156, target at 4085-4100. Hold if it breaks through! 2. Go long gold at 4085-4095, stop loss at 4078, target at 4145-50. Hold if it breaks through!
TVC:GOLDShort
by AnalystDavid_
1
Gold’s drop isn’t over yet,4000 could be the next stop!Gold began its decline near 4375, gradually breaking through the 4300, 4200, and 4100 levels, reaching a low near 4080, a near-$300 intraday drop and its largest intraday drop in recent memory. From a market perspective, the decline in gold prices has shown obvious characteristics of speed, urgency and fierceness. There have been a large number of signs of profit-taking and panic selling, which have led to a brutal decline within the day and severely hit the confidence of market bulls. On the contrary, the bearish atmosphere is quite strong. The change in market sentiment may stimulate gold to increase its retracement. From a technical perspective, gold continued to fall below multiple key support levels, confirming the effectiveness of the M-shaped double top structure. Under the pressure of the technical structure, the bears gradually gained the upper hand in the battle with the bulls and successfully seized the initiative. The current lowest point has reached 4080, but 4080 may not be the lowest point at this stage, which means that gold still has room to fall. According to the current downward momentum, we will not blindly guess the bottom for the time being. Once gold falls below the area near 4080, gold may continue to fall to the area near 4050, and may even reach the area near 4000; and as gold falls, the current short-term resistance is first in the 4155-4165 area, followed by the area near 4180-4190. Therefore, for short-term trading, we should be more cautious and focus on shorting on rallies. If gold rebounds to the 4155-4165 area first, we can consider shorting gold in appropriate batches.
OANDA:XAUUSDShort
by XAUSniper_Steffen
10.21 Gold correction continues to riseTechnical Analysis The 4-hour MACD formed a death cross with shrinking volume, converging and flattening, indicating current volatility. The 4-hour candlestick chart also closed at a high level with a small Yin-Yang candlestick. The question now remains whether the candlestick chart will rise directly or retrace to the middle line near 4292. A direct rise would not fall below the morning's low of 4332. The hourly chart began to fluctuate and decline after trading sideways this morning. Currently, attention is focused on support near 4332. The hourly MACD formed a golden cross with shrinking volume, and the STO indicator corrected downward, indicating a potential decline in the hourly chart. Current support on the hourly chart lies around 4332-4327 and 4302. In summary: The daily chart suggests today's decline is not over, and will likely reach at least 4300. The question now remains whether the 4-hour chart will fluctuate at a high level or rise directly. A direct rise would likely lead to a continued rise to around 4420, while consolidation at a high level would likely lead to a decline. Therefore, a short position around 4372-4377 is feasible. As for long orders, they need to be placed near 4267-4275, and the first long order can be placed near 4296-97. Strategy: Short near 4368-70, defend 4382, target 4335-4300-4270 Long near 4296-97 below, defend 4290, target 4330 Long near 4268-72 intraday, defend 4262, target 4300-4330-4370, etc. Breaking above 4382 will directly lead to the 4410-4420-4480 line, so if it breaks above 4382 and then falls back to 4370, go long. Like
TVC:GOLDLong
by AnalystDavid_
1
10.20 Gold breaks out of volatility and accelerates its riseThe 4260 level can be considered a short-term watershed, primarily because last week's upward movement peaked at 4380. The initial decline occurred at this level, and after rebounding below 4380, the price fell again, breaking below this level and reaching below 4200. However, this trend has not been sustained, and the price has risen again after breaking through this level in the US market. Therefore, in terms of future trading strategy, I personally believe that gold prices will continue to rise, and I recommend waiting for a pullback before continuing to invest in bullish long positions. In short, 4260 is considered a watershed between bulls and bears, and also a protective level for our future strategies. The recommended entry point is around 4300, with an eye on resistance at the previous high of 4330!
TVC:GOLDLong
by AnalystDavid_
Gold Bulls Roar Again! 4300 Target in Sight!Overall, today, gold is currently fluctuating in the 4270-4220 range, but the movement signs show that gold is more inclined to a bullish trend; after touching the area near 4220 twice during the day, it rebounded quickly, and the area near 4220 became the absolute low point area of the day, and formed a double-needle bottoming pattern in the short term, indicating that gold may continue to maintain an upward trend. During the operation of gold, the low point is constantly moving up and showing multiple long lower shadows in the candle chart, while the upper pressure is in the horizontal resistance area near 4270-4280, and in the short term, there is a clear embryonic form of an ascending triangle structure. As the center of gravity of gold moves up, the short-term support has moved up to the 4245-4235 area. If gold holds this area during the pullback, the ascending triangle structure will be established in the short term, and gold is expected to test the resistance of 4270-4280 again. Once it breaks through this resistance area strongly during the rebound, gold is expected to continue to 4310-4330 area. So for short-term trading, we can wait for gold to retrace and then try to go long on gold with the support of 4245-4235 area, first aiming at the short-term target area: 4280-4290
OANDA:XAUUSDLong
by XAUSniper_Steffen
10.20 Gold short-term resistance looks at 4280Gold prices twice confirmed their all-time high of 4380 before falling, the first time by $100 and the second time by nearly $200. Last Friday, gold prices were insane, plummeting from 4380 to 4279, leaving $100 of room for further gains, before rising another $100 to find 4380. After confirming resistance at 4380 for the second time, the price continued to rise, signaling a downward trend. Pressure was placed on the short side at 4380, 4355, 4350, 4321, and 4364. The price continued to move around the established downward trend, gradually shifting between levels, and finally accelerating to 4186 before ending the decline. The price rebounded in late trading, returning to the 4250 mark to end the week! Judging from Monday's market action, the market has entered a broad range-bound sweep. Specifically, the bullish rally may have temporarily paused, gathering momentum for a subsequent rebound. We must clearly understand the positioning of our defensive lines. When these lines are breached, adjustments and changes must be made: 1. Coordination between the two lines on the hourly and 30-minute charts It has fallen back into the 30-minute chart's two-line range, between 4280 and 4110. It remains above the upper limit of the two lines on the hourly chart, at 4221. Although it broke briefly last Friday, the closing price quickly recovered. Support is also being sought at 4221 in the European session this afternoon. The upper limit of the two lines, 4280-4220, is where the support is being sought. If the price breaks through this range, the nature of the market will begin to change. 2. Top and bottom reversal positions and Within the small channel, pressure is building up in the 4280-4385 area. The lower band is extending and expanding, focusing on the 4180-4200 range. In the Asian session, prices fluctuated around the 4219-4271 range. In the afternoon, we confirmed that the 4268 area was beginning to bearishly bearish. Based on this strategy, we chose to enter a bearish position from above, targeting the 4220 area. Once the price started to move, we would aggressively chase the price, pursuing the bearish trend until it accelerated to the 4221 area. Short-term strategies for the European and US sessions 1. Short-term trading in the 4278-4282 area, with the upper pressure at 4286, a stop-loss at 4298, and a target of 4250. The next target is 4225-4215. 2. After completing the $100 sweep, focus on the 4320 area for short selling. The specific target is a bit further out, so stay tuned for real-time alerts. 3. Currently, the price has returned to around 4260, so we will wait for the plan in the first point.
TVC:GOLDShort
by AnalystDavid_
10.17 Gold Short-Term Operation Technical Guide!!!Recently, as the expectation of the Federal Reserve's interest rate cut has become more and more intense, and there is an expectation of an increase, the loose atmosphere, coupled with the expectation of inflation and the impact of the economic and trade turmoil, gold has once again become the darling of the market. Every day, it witnesses new highs in history, and the trend has become more and more crazy. There is no top in sight, and it is also impossible to say when a dive will come. Today, the Asian session hit a high near 4378 and then fell back quickly to touch around 4278, a range of US$100, and then quickly rebounded to above 4370 again. Subsequently, the European session jumped back and forth. Today, Friday, we need to be wary of the possible profit-taking trend in the market. In terms of operation, the rebound depends on shorting at 4360/70, and pay attention to the gains and losses of 4300. If it falls below 4300, we will see adjustments. Otherwise, we will continue to see bullish fluctuations if it falls back.
TVC:GOLDLong
by AnalystDavid_
10.17 Gold bulls rose sharply and are about to enter the 4400 erLooking at the 4-hour market trend, the short-term support at 4290-4300 is currently under consideration, with a focus on 4270. The bulls are rising strongly and there is no end in sight. Trading strategies should focus on buying on pullbacks. For intermediate positions, be cautious in following orders and patiently wait for key entry points. I will provide detailed trading strategies during the trading session, so please pay attention.
TVC:GOLDLong
by AnalystDavid_
The Golden Triangle is coming to an end, beware of profit takingGold Hourly Chart: The overnight close was relatively high, and today's Asian session continued its upward trend. The European session saw a sharp drop below the upper channel line at 4242. This trend resistance line is the same one that held pressure at 4218 in yesterday's European session. The market then closed with a large, plump, bearish candlestick pattern at 2:00 PM, reaching the target of 4210. Since it was a large bearish candlestick pattern, not a long lower shadow candlestick pattern, a rebound confirming the 5-day moving average at 4230-34 is sufficient, so a further downward push is warranted. The European session saw consecutive positive days, testing the bottom and rallying to a new all-time high. However, caution is advised in the US session. On the one hand, the 4250 level is a resistance point in the channel, and on the other hand, it is nearing the end of an ascending converging triangle, leaving little room for further movement and a potential reversal. Therefore, support remains at the middle line at 4230. Only a significant break below this level would trigger a potential for a significant short-term correction. Resistance is at 4265. Be cautious about blindly chasing rallies below this level. Consider the gains and losses at both levels and wait for signals.
TVC:GOLD
by AnalystDavid_
3
10.16 Gold Short-Term Operation Guide!!!Three key points to watch today: 1. Position. Today's target is the 4200 area (previously, it started at 4000, then 4090, and yesterday was 4140). The 4200 mark is today's early trading low. Using this as a dividing line, we're looking to sweep the $40 range above and below. A breakout will open up further opportunities. 2. Channel. The lower band of the channel overlaps with yesterday's low at 4140, while the upper band currently overlaps at 4220-4225. Today's Asian session saw continued gains, breaking through the small channel range and extending gains by approximately $20 to 4242. However, after the breakout, the price fell back to 4203, retesting the previous high. If the market falls back into the channel, the support and resistance levels will shift again to the 4220-4225 area. If it successfully holds above the support level, look for the 4200 area. If it breaks below, look for the 4180 and 4165 areas, with the 4145-4140 area exceeding the range. Similarly, if it breaks above 4240, and the profit margin is halved according to the principle of equal distance, the next resistance level will be the 4270-4290 area. 3. Although the current result is an upward trend, the process has been characterized by significant ups and downs, with each initial move ranging from approximately $60 to $80. So, regardless of whether you are long or short, regardless of the direction, at this moment, timing is more important than direction. Once confirmed, To determine a trigger, the first consideration is at least $60-80. Within this range, stick to one direction. If it's right, reap the rewards; if it's wrong, exit. Regardless of whether you're long or short, don't dwell on it. The current market trend is extremely chaotic. In this chaotic situation, perseverance is more important than choice. In summary, for gold today, Thursday, focus on the 4200 mark as a spatial boundary. From this boundary, we can see a range of $40 above and below. Two key resistance levels: the upper limit of the 4220-4225 channel and the equally spaced upper limit of the profit margin at 4240-4242. Using these two levels as resistance, we can see downward pressure on the price, looking for the 4200 area. If it falls below 4200, Two key support levels are moving downward: First, 4180, a support point that was repeatedly consolidated in the US market last night. Second, 4165-4160, the bottom of yesterday's sharp drop in the European market. Of course, if the price does fall to the second support level, it will be easy to find the lower limit of the small channel at 4140, which is also yesterday's low. Based on this idea, the European market price met expectations. Under pressure from 4242, a decline to 4203 helped to profit from the short position. The rebound continued, but the price slightly exceeded the range. If the price exceeds the range, then the second confirmed high of 4242-4245 area is still a short position, with a stop loss at 4253 and a target of 4220-4200. If it falls below, look for 4180 and 4165.
TVC:GOLDLong
by AnalystDavid_
10.16 Gold maintains the upward trend in the Asian session!!!From a multi-period analysis perspective, first observe the monthly chart's rhythm. From a long-term perspective, 3130 represents a watershed in the long-term trend. Above this level, consider a long-term bullish approach. From a weekly perspective, the current bull-bear watershed is 3585. Above this level, consider a medium-term bullish approach. From a daily perspective, focus on the 3997 support area for now. Above this level, consider a short-term bullish approach. From a four-hour perspective, which we've consistently emphasized, support currently lies at 4175. Above this level, consider a short-term bullish approach. On an hourly basis, prices are also currently bullish, but short-term divergence is occurring. Therefore, be mindful of short-term bullish risks in the event of further upward movement. Meanwhile, today's early trading session saw another surge in gains, with the early morning low serving as a watershed for the day. Above this level, consider a short-term bullish approach. Focus on the 4235-4266 area as an upward move. Gold's Asian session low of 4199.73 marks the intraday watershed. Above this level, bullish momentum is expected to continue. (Also, a divergence is occurring in the hourly chart, so be aware of the risks associated with a short-term rally.)
TVC:GOLDLong
by AnalystDavid_
Profit Both Ways — Double the Trades, Double the Thrill !After gold hit above 4210, it showed obvious signs of stagflation. First, after gold touched around 4218, it retreated to around 4164; secondly, after gold touched around 4212 during the rebound, it retreated again to around 4179.While the two pullbacks were limited, they also indicate that after gold's strong rally, the market is beginning to diverge and diverge. We can use the ABC rule to determine the position of D. Based on the chart composition, D is around 4160. That is to say, in the short term, gold has the need to retreat to around 4160 again, and this area is also a strong defense line for bulls. If this defense area is broken, gold may continue its downward trend and test the bull-bear dividing line of 4140-4130. So after a clear rejection signal appears, I think we can continue to try to short gold in the 4205-4215 area. The retracement target area is first located in the 4180-4160 area; and once gold retreats to the 4160-4150 area, we can wait for an opportunity to rejoin the gold long trade!
OANDA:XAUUSDShort
by WaveRider_Steffen
10.15 Gold continues to rise, beware of a pullbackGold 4-hour chart level: Asian session directly pulled up strongly. The overnight closing itself was not at a relatively high level, and it was still 40 meters away from the previous high. After a short squeeze and strong pull, it did not stop until the European session reached the upper track of the yellow channel 4218 in the figure, and then there was a sharp drop, with the lowest point at 4165. The high point of this wave of suppression was predicted in place (4215 was prompted in advance to pay attention to the resistance pressure), but the low of 4165 was only touched for a few seconds, so only 4180-4190 can be chosen; Judging from the current trend, the US session tends to see a strong consolidation at a high level. The resistance is still the derivative of the upper track of the yellow channel, which will move up to 4220-25. The support is the middle track 4170, which is also the retracement point of the previous red channel line; after approaching both sides, we will look for pressure or support signals to try to make a shock;
TVC:GOLD
by AnalystDavid_
1
10.15 Gold breaks high again, looking for retracement to continuAfter a significant bearish candlestick pattern, the gold price's hourly chart immediately took off with a bullish candlestick pattern in the Asian session, signaling a rebound from a bottoming out. The large bullish candlestick pattern at the bottom solidified the base, and the moving average took off again, also trending almost vertically upward. The candlestick pattern remained above the moving average throughout, demonstrating the unstoppable bullish momentum. The upper limit remains at 4200. Intraday short-term trading strategy: BUY: 4150 Stop-loss: 4142 Top 1: 4185 Top 2: 4200
TVC:GOLDLong
by AnalystDavid_
1