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Gold rebounds, bears should not miss this opportunity!Did gold fall as we expected? Congratulations to those who have been paying attention. We have been emphasizing from the weekend, last weekend, until yesterday that the top of gold is just above the 3700 mark, and the extreme position is in the 3720-30 area. When the Fed cuts interest rates, gold will fall. We have been saying this over and over again. I don’t know if you have listened to us. Gold, the release of yesterday's interest rate decision also made the market experience a shock. The large fluctuations back and forth without a bottom line also made the market abuse the bulls and bears wantonly. The trend was also quite magical, making the market defenseless and not giving the slightest chance. After a small rebound near 3694 when the news was announced, it began to dive rapidly, reaching the lowest point near 3652, and then quickly rose again to near 3707, and then continued to fall rapidly, reaching the lowest point near 3645. After the opening, it rebounded again at 3672 and continued to fall. The current lowest point was near 3634. A series of large-scale back and forth sweeps also made the market more fearful, and the daily line also closed in the form of a large negative line. The market is in a state of decline, directly breaking the support of the short-term moving average. It is currently hovering between the 5-day and 10-day moving averages. Therefore, due to the closing of yesterday's large negative line, it is relatively likely to start a pullback and repair again in the short term, and the effective support below is maintained at around 3630-3620. This area is also the key tactical defense we mentioned earlier. Once this position continues to be lost, the long and short positions may be reversed in the later period. The key pressure above is maintained at around 3675-3690. You can refer to this position to continue to short and wait. If gold rebounds to around 3675-3690 during the day, short it, and the target is around 3630-20.
OANDA:XAUUSDShort
by GoldenTrack_Daniel
Gold Not Bottomed Yet：Selling Rallies Remains Key After a deep V-shaped rebound to near 3673, gold fell sharply again, hitting a new low near 3627. Clearly, after the rate cut, most investors took profits, driving gold prices down. As gold's center of gravity shifts downward, the current short-term resistance area has shifted to 3660-3670. From the current structural perspective, gold is shifting from strength to weakness, with bears gradually recovering and taking control. Following the sharp rally, there is also a need for a technical pullback. While gold has rebounded slightly, there are no clear bottoming signals. I believe gold has not yet reached a low and is likely to continue to test the 3625-3615 area. If this area is broken, it will open up further downside potential, potentially extending the downward trend to around 3580.
OANDA:XAUUSDShort
by PriceSniper_Steffen
Overestimate and undervalue, opportunities abound!The range operation ideas we shared have been verified to be correct again. We have perfectly grasped the market rhythm by going short first and then long. Congratulations to friends who are paying attention. After the US market, gold fell to the key support area of 3630-3620 and then rebounded quickly. At present, we continue to focus on the short pressure position of 3670-3690. This position is not only the pressure near the 5-day line, but also the upper pressure area of the hourly chart moving average band. In the short term, it may become the core area of the bull-bear game. Although the interest rate cut has been implemented, the market focus has shifted to whether the pace and magnitude of future rate cuts will increase. The marginal benefits to bulls are weakening. Therefore, the short-term recommendation is still to sell high and buy low in the range, and not to chase highs and sell lows. If your recent operations are not ideal, or you want to make your investment more stable, you are welcome to communicate with me at any time, and I will help optimize the strategy. From the 4-hour level, 3630-3620 is still the key defensive support level. If it falls below this area, the bullish and bearish pattern in the future market may change; and 3670-3690 is still a strong pressure. Strategically, we will continue to use this range as the core for long and short layout. In the middle position, we should watch more and do less, and wait patiently for the key points before entering the market to avoid unnecessary risks brought by frequent chasing orders. Gold operation strategy: When it falls back to the 3630-3620 area, lightly arrange long orders, and first target 3660-3670. When it touches the upper pressure, you can gradually reduce the position and take profit to provide protection.
OANDA:XAUUSDLong
by GoldenTrack_Daniel
Rate Decision Looms: Short Sellers Poised to StrikeGold continued to decline and is currently supported around 3660 and showing signs of rebound. I don’t hold any orders at the moment because I am currently preparing for the Federal Reserve interest rate decision news market! In fact, I have made part of the plan yesterday and today. Until now, I still tend to believe that the gold market will rise and then fall, but we must grasp the trading rhythm and entry price in the transaction. In fact, before the Fed's interest rate announcement, gold retreated to around 3660. After this significant retreat, we can lower our expectations for a gold rally on news. Based on the current structure, the upper limit for gold bulls lies in the 3710-3720 area, and it's possible that the 3703 area has become the current high. As gold retreats to around 3660, bullish momentum has weakened, and short-term resistance has shifted to the 3680-3690 area. Therefore, I might consider initiating a short position in gold in this area. If gold falls below the 3660-3650 range due to market news, it could continue its decline to the 3635-3625 range. Since we currently hold no positions, we have the initiative in trading. As long as we allocate lots appropriately and strictly control risk, it's difficult not to make a profit! So, let's wish you good luck!
OANDA:XAUUSDShort
by PriceSniper_Steffen
Gold at the Fed’s Crossroads: Bearish Windfall of 500–1000 PipsToday, we accurately grasped the rhythm of gold's fluctuations. In the previous trading idea, we clearly pointed out that gold is likely to reach the 3700-3710 area, and the latest trading plan is to continue shorting gold near this area, with the expected primary retracement target at 3680-3670. Obviously, even in the market's clamor for a rise, we are sticking to our trading logic, accurately grasping the volatility high near 3703 to short gold, and directly hitting TP: 3680. A very good short-term short trade! For the gold market, the next highlight will of course be the Federal Reserve’s announcement of its interest rate decision.Market expectations for a 50 basis point rate cut by the Federal Reserve are rising, and there are also bets that there will be three rate cuts this year, with the first starting this week. Gold certainly lived up to expectations and, fueled by market expectations of a rate cut, soared all the way to over 3,700. So, what are my thoughts on the gold market regarding the upcoming Fed interest rate decision? In fact, judging from the current U.S. economic and inflation data, as well as current market expectations, there are only two possibilities for the Federal Reserve's interest rate decision: a 25 basis point cut or a 50 basis point cut. If the Fed cuts rates by 25 basis points, falling short of market expectations, the gold market could experience a surge followed by a decline, with the inflection point likely located between 3705 and 3715. If the Fed cuts rates by 50 basis points, in line with market expectations, bullish sentiment will intensify, with buying funds continuing to push gold higher, potentially reaching around 3730-3735, where a turning point could occur. However, considering that gold prices already surged ahead of the Fed's rate announcement, this move is likely intended to create room for further declines. Furthermore, given the "buy expectations, sell the facts" phenomenon, gold is likely to experience a surge followed by a decline. Furthermore, I believe the Fed is likely to adopt a gradual approach to rate cuts, so I believe the most likely rate cut will be 25 basis points, with the inflection point likely located between 3705 and 3715. Therefore, we can focus on the opportunity to short gold in the 3705-3715 area. Even if gold continues to rise, we can pay attention to the short trading opportunities near the extreme area of 3730-3735. Once gold experiences a sharp pullback, it may trigger large funds to take profits and panic selling, and gold may continue to fall to around 3650 or even around 3630.
OANDA:XAUUSDShort
by PriceSniper_Steffen
False Break at 3700:Retreating Toward 3680-3670Currently, the highest price of gold has reached around 3699, and it is only one step away from the 3700 mark! I have to say that against the backdrop of significantly increased market expectations for interest rate cuts, the resonance of technical and news factors has pushed up gold prices. The current bullish momentum is strong, and there has been almost no obvious pullback during the rise. At this stage, most of these are tricks played by big funds, and it is actually difficult for retail investors to participate in long transactions. Therefore, at this stage, I will not rush to chase the rise in gold prices. From an intraday perspective, gold still has the potential to hit the 3700-3710 area, so my latest trading plan is to continue shorting gold near this area. With gold bulls so strong, why I am still optimistic about a gold pullback. The main reason is that the current market is facing a critical time window. The Federal Reserve will announce its interest rate decision tomorrow, but I think the Federal Reserve may announce a 25 basis point interest rate cut in a step-by-step manner, rather than the 50 basis points expected by the market. If the rate falls far short of market expectations, gold could experience a significant pullback or even a crash. However, the sharp rise in gold prices near the Fed's rate decision suggests it may be an attempt to reserve room for further declines. In addition, based on the current trading volume, the small trading volume may not be able to support the continued upward trend of gold. It is for this reason that while I avoid chasing high gold prices, I also always remain optimistic about gold shorts. Therefore, at this stage, I would consider shorting gold in batches based on market price performance. By effectively raising the average entry price, we can reap the first bite of the pie after gold prices fall. However, we must note that short-term support for gold currently lies in the 3680-3670 area, with strong structural support below that at 3660-3650. Therefore, in order to lock in profits in time, these two support areas will be our primary target areas for short trading.
OANDA:XAUUSDShort
by PriceSniper_Steffen
Rally Before the Fed: A Trap or Treasure for Bears?Gold hit a new high again, and the current highest has reached around 3685. After gold consolidated at a high level for several trading days, the bulls launched a strong attack again, and it seems that there are signs of trying to hit 3700. However, the current gold market is at a critical node and cycle, so I do not advocate continuing to chase gold; on the contrary, I will choose to short gold at every high as the gold price rises! Gold rose sharply as the Federal Reserve was about to announce its interest rate decision, and hit a new high again! Against the backdrop of interest rate cut expectations, it is easy to push market sentiment to a climax! When the market is caught in a long-term frenzy, it may also be an opportunity for large funds to quietly exit the market. Therefore, I think the purpose of gold's sharp rise before the Federal Reserve announced its interest rate decision is very clear. The first is to reserve room for decline for the news market in advance, and the second is to attract most retail investors in the market to take over. So I think the turning point of gold is coming soon! So for short traders, I think this rise is not a risk, but an opportunity! Gold may collapse based on the phenomenon of "buying expectations and selling facts", so I think we need to short gold at its rallies before the Federal Reserve announces its interest rate decision. However, I would like to point out that when shorting gold in batches, we must control the number of lots traded to reduce trading risk! For short-term trading, I believe we can short gold in batches above 3680, with a short-term retracement target of 3660-3650. If gold falls below this area, it may even continue to retrace to the current rising point of 3635-3625.
OANDA:XAUUSDShort
by PriceSniper_Steffen
Big events in gold this week!Gold closed with another positive line on the weekly chart. Although it has a long upper shadow line, the overall upward pattern is still solid, the trend has not been destroyed, and it still maintains a strong pattern. The daily level shows a high-level yin-yang cycle consolidation. It has failed to break through the 3660 high in the short term. Therefore, it will temporarily respond with a shock thinking, waiting for another bullish opportunity after the breakthrough. What needs to be paid attention to is that the Federal Reserve’s interest rate decision is about to come this week. The market may usher in a new direction choice, and volatility may intensify. At that time, the market rhythm will be more critical. Pay attention to the 3620-3660 area in the small range of the day. If it can break through, look at the extension space of the large range of 3675-3610. Remind brothers, this week’s trading should pay more attention to rhythm and risk control, avoid blindly chasing ups and downs, wait patiently for the key positions to be confirmed before entering the market accurately, execute high-winning trading plans, and lock profits firmly in the account.For the specific layout and operation rhythm, please refer to the bottom notification I released at the first time to ensure consistent execution and unified thinking, and avoid blindly following the trend and causing unnecessary risks.
OANDA:XAUUSDLong
by GoldenTrack_Daniel
How to seize the certain opportunity of gold?Gold prices are currently consolidating within a yellow parallel channel on the hourly chart, forming a rising flag pattern. We anticipate an eventual breakout and the start of a unilateral rally. The key short-term move lies in the middle band. If the price holds support at the middle band and 3630, a volatile upward trend is likely. A break above the upper band at 3665 could accelerate the upward trend. If the price loses control of the middle band and falls below 3630, the market will continue to fluctuate within the channel, potentially testing the lower band and support near the 10-day moving average early next week, offering a bullish opportunity at low levels. The 3635-3630 support level should be closely monitored. If a bottoming-out rebound signal emerges, consider buying on dips. If the price effectively breaks below 3630, wait patiently for a pullback to the lower band next Monday before entering a long position. The primary resistance area above is 3665. Only a break above this level would confirm the formation of a rising flag pattern and trigger a unilateral rally. Caution is advised throughout trading, awaiting clarity on the direction of key levels.
OANDA:XAUUSDLong
by GoldenTrack_Daniel
A pullback is an opportunity, go long decisively!Yesterday, the technical analysis of gold first declined and then rose. It was suppressed below the 3650 mark during the Asian and European sessions and showed a continuous decline. It further accelerated its decline before the European and US sessions, breaking through the 3630 mark, and continued to decline to around 3613 to stabilize and rebound. It rebounded strongly during the US session and finally closed above the 3630 mark with a small negative fluctuation. The overall price still held the 3610 mark, forming a support and stabilization pattern. After the opening of today, gold once again rose and broke through the 3640 mark. In the short term, it has experienced continuous retracements to test the 3610 mark support, which is still valid. The long position at the daily level is continuing well, and it is expected to further impact the previous high of 3675 resistance area. Today, the short-term support below is around 3630-3620, and the important support is 3610. If it falls back to this position during the day, the main bullish trend will remain unchanged. The short-term bullish strong dividing line is 3600. If the daily level stabilizes above this position, the rhythm of falling back to low and long and following the trend will continue. The specific execution plan of the counter-trend short order will be updated as soon as possible according to the real-time trend, and I will remind everyone to respond flexibly to ensure that every step of the operation is carried out under controllable risks. Remember to pay attention in time. Gold operation strategy: Go long when gold falls back to around 3630-3620, with the target at 3650-3660. Continue to hold if it breaks through.
OANDA:XAUUSDLong
by GoldenTrack_Daniel
Quiet Storm：Bulls vs Bears in Waiting！Under the influence of CPI and initial jobless claims data, gold rose directly to the area around 3644. The short-term rise seems exaggerated, but it did not stand firmly above 3650, and even failed to reach the intraday high of 3649. The release of bullish momentum was relatively convergent; it can be clearly seen from the short-term candlestick chart that gold showed long upper shadows many times in the short term, and the trajectory and structure began to shift downward, and tested support downward many times, which also proved that the short-selling force was gradually recovering after being suppressed. However, gold rebounded after touching the 3620-3610 support area several times during the retracement. Although the bullish momentum has declined in the short term, the bullish structure has not been completely destroyed, so the overall structure is still controlled by the bulls, and the bullish force still has enough strength to support gold. Overall, as the bulls become more cautious and the bears gradually recover, gold is expected to maintain high-level fluctuations in the short term, and the fluctuation range is likely to remain in the 3655-3615 area. Therefore, for short-term trading, we can strictly stick to the trading points and execute high-selling and low-buying transactions within the area.
OANDA:XAUUSDShort
by PriceSniper_Steffen
CPI data is confusing,gold is fluctuating in a bearish directionGold Technical Analysis: Looking back at the recent trend, gold surged and then retreated on Tuesday, forming a shooting star pattern. However, the decline did not continue on Wednesday, indicating that the pullback was merely a one-off adjustment and lacks sustainability. It is a normal correction after a significant rally. Even if the market peaks, it will not be so simple. It will at least undergo a process of "high-level fluctuations turning bearish" or "second upward attack to lure more investors and then decline." In the short term, the rebound will continue to fluctuate, and it is unlikely to see significant rises or falls in a short period of time. Looking at the daily gold chart, the daily gold line has slowed down slightly. After continuous large volume, the daily line has turned into a small Yinxing candlestick pattern for consolidation. There is a need for a short-term pullback. Considering the short-term chart, the second high-point test failed to break through the previous high, the previous continuous large volume without a pullback, and the pressure from the second upward test. If there is no new high in the short term, there will be a partial correction around 3675-3657. The pattern will determine whether it is a deep pullback or a sideways consolidation. Judging from the 4-hour gold chart, yesterday's gold price failed to achieve results in its attempt to rise again. There are signs of a downward correction. The 4-hour chart lost the middle track, breaking the unilateral upward momentum. At the same time, there is a need to further retrace to the lower track. Combined with the second high in the hourly chart near 3657, the second pressure turned into a decline. The strong market is to retrace and then break the high. Once the breaking power is stopped, it will go into a shock correction. Overall, today's short-term gold operation strategy recommends shorting on rebounds as the main strategy, and buying on pullbacks as the auxiliary strategy. The short-term focus on the upper side is the 3640-3650 resistance line, and the short-term focus on the lower side is the 3610-3600 support line.
OANDA:XAUUSDShort
by GoldenTrack_Daniel
Gold trend analysis continues to rise after consolidationGold trend: Today, gold focuses on the impact of CPI data, which may impact the temporary technical view. Today, the Asian and European sessions maintain a low-long bullish trend, with support at 3620-3610 and short-term focus on 3645-3655. The US data has little impact, so it depends on the range. If the data has a large impact, focus on 3600 below and 3680-3690 above. Gold has risen unilaterally in two transactions and fluctuated for one trading day this week. The current high of gold is 3675, and the decline is only around 3620. Therefore, it is obvious that gold is rising slowly under the bullish trend, and even if it fluctuates, it will not fall much. Then, to determine the direction, we must look at the upward space under the direction. We still don’t guess the top, but under the influence of data, we still have to discuss whether there will be a change in direction or a shift in strength in the near future. From a technical point of view, the daily line is still above the support of the 5-day moving average. If the 5-day moving average is not broken, there is no possibility of weakening. Although the 4-hour Bollinger Bands have closed, the middle track has not broken, and it is difficult to have a major adjustment. Therefore, the current market is still in a strong position. It is not clear whether gold has peaked or has a larger adjustment space. Therefore, if you want to trade, you still have to go long on the decline. So, today's market can be viewed in two steps. The European session is expected to fluctuate upward. Operate at key points and go long in the 3620-3610 support area below. Look at the 3645-3655 area above. If the US data has a greater impact, pay attention to the gains and losses of the 3600 key point below. It is still a good time to go long if it does not break.
OANDA:XAUUSDLong
by GoldenTrack_Daniel
The decline is just an adjustment, gold still has new highsAccording to the strategy, we first arranged long orders near 3620, and the market rose smoothly to around 3650; then it fluctuated and consolidated, and according to the strength of the decline, we were prompted to go long again near 3640, and finally made a profit again near 3655, achieving two consecutive wins with open long orders, and reaping considerable profits overall. Congratulations to friends who have been paying attention. Many traders who blindly followed the trend and shorted in the market today are wailing, but we have always insisted on remaining unchanged in the face of change. After confirming the strong rhythm, we have made decisive and continuous attacks, steadily reaping profits, and the winning streak is still continuing. Gold is fluctuating upward above the 3640 level. It is currently fluctuating around the 3650 level. The market's expectations for interest rate cuts have not cooled down. The market may continue to fluctuate at a high level in the later period. Although gold rebounded on Wednesday, it did not reach a new high. The main structure is still operating within the expected range. However, after the market has stood above 3650, it brings uncertainty to the trend. Therefore, gold is still treated with the idea of going long on pullbacks. Going long on pullbacks is still the general trend. In terms of operation, I believe that we will continue to go long as the pullback does not break. From the 4-hour cycle, the bullish structure of gold remains stable. The short-term support below is around 3635-3625. The bullish strong dividing line has moved up to 3615. If this position is not broken, the pullback will rely on this area and continue to be bullish. At the daily level, as long as it stabilizes above 3615, the overall main tone of pulling back to low and long and following the trend will remain unchanged. In terms of operation, we should be patient and wait for the support to be confirmed. Low and long is still the general direction. As for the specific operation strategy of the counter-trend short position, I will remind you again at the key position, and everyone can pay attention to it in time. Gold operation strategy: Go long when gold falls back to around 3640-3630, with the target at 3655-3660. Continue to hold if it breaks through.
OANDA:XAUUSDLong
by GoldenTrack_Daniel
How to correctly grasp the gold trading opportunities?Yesterday, the technical side of gold rose first and then fell. The overall gold price continued to rise strongly in the Asian and European sessions, and finally fell back in the U.S. session and fell into repeated fluctuations, and finally closed near 3628. The daily K-line closed at a high and then fell back and fluctuated in the middle. Yesterday, I kept notifying everyone that the technical side needed to retrace and not to be overly bullish on gold. Now everything is perfectly in line with expectations. Friends who follow me can see it. Today we continue to treat it with the idea of ​​going long on retracements. After all, I believe that the trend has not reversed, and going long on retracements is still the general trend. Today, we will first focus on the short-term support at 3620-3610 below, and continue to go long if it retraces and does not break. If you encounter troubles in your current gold operations and want to make your investment journey more stable and avoid detours, please feel free to communicate with us at any time! From the 4-hour level, today's short-term support for gold will focus on the 3620-3610 area, and the 3600 mark is the core dividing line between the strength of the bulls. If it retraces and stabilizes above this position during the day, the overall bullish thinking will remain unchanged. The main tone is still to go long on the retracement. At the daily level, as long as gold stabilizes above 3600, the low-long thinking will be sustainable. As for the counter-trend short positions, specific reminders will be given according to the pressure on the market at high levels. Brothers just need to pay attention to the bottom in time. Gold operation strategy: Go long on gold when it retraces to around 3620-3610, target 3650-3660, and continue to hold if it breaks through.
OANDA:XAUUSDLong
by GoldenTrack_Daniel
1
Turning the Tables: Bears’ Guide to Profit in GoldDriven by the dual influence of interest rate cut expectations and the job market, gold prices continue to rise and reach new highs. This is entirely a game played by big money at this stage. Buying sentiment in the gold market is currently so high that most of the time, there's no opportunity to even enter a long position. Therefore, after considering the possible phenomenon of "buying expectations and selling facts", while controlling risks, I carefully tried to short gold. Although I suffered losses frequently, I also made a good profit overall because I successfully captured the volatility. Currently, gold continues to rise and has reached a high of around 3637. In fact, according to its wave pattern, gold may experience a pullback at any time. This is why I insist on shorting gold today. The 1st wave: Gold rose from around 3405 to around 3508, a 3.1% increase with a fluctuation of $105. The 2nd wave: Gold rose from around 3470 to around 3578, a 3.16% increase with a fluctuation of $108. The current wave: Gold rose from around 3512 to its target of around 3637, a 3.5% increase with a fluctuation of $124. According to the trend of price fluctuations, gold has reached and, to a certain extent, exceeded the previous two waves, so a pullback is possible at any time. Furthermore, given that intraday fluctuations have been between $30 and $50 in recent days, and the intraday fluctuation of gold from around 3580 to around 3637 reached $57, a short-term pullback is highly likely. However, because the bullish momentum of gold is strong, I will continue to try to short gold before a clear peak signal appears, but I may appropriately lower my expectations for gold's pullback, that is, appropriately lower my expectations for profit margins. My current short position entry prices are: 3612, 3621 and 3636. Basically, I add positions every time the fluctuation is 100-150pips. I currently hope that gold can retreat to the area around 3610-3600.
OANDA:XAUUSDShort
by PriceSniper_Steffen
2
XAUUSD – Weekly Plan: Bullish Bias with Key Levels Ahead MMFLOW TRADING PLAN XAUUSD Market View: Gold (XAUUSD) is moving exactly as projected in our weekly plan. After Nonfarm pushed price close to $3600/oz ATH, gold has been consolidating around the 357x–358x zone while holding the ascending trendline. Both the Daily and Weekly charts remain strongly bullish, showing no signs of profit-taking. This confirms that buyers are still in control, and the upside bias remains intact. 👉 However, with key US data (Core PPI, CPI, Jobless Claims, UoM Sentiment) coming up this week, short-term volatility is expected. Traders should watch closely how gold reacts around critical support and resistance zones. Technical Outlook (H1 Chart): Price is consolidating sideways, respecting the bullish structure. Holding above 3574–3550 keeps the bullish momentum alive, targeting higher liquidity zones at 3620–3640+. A break below 3530 could trigger a deeper pullback before buyers step back in. Trading Plan: 🔵 BUY ZONE: 3552 – 3550 SL: 3544 TP: 3556 → 3560 → 3565 → 3570 → 3575 → 3580 → ???? 🔵 BUY SCALP: 3573 – 3571 SL: 3567 TP: 3578 → 3582 → 3586 → 3590 → ???? 🔴 SELL SCALP: 3598 – 3600 SL: 3604 TP: 3595 → 3590 → 3585 → 3580 → 3570 → 3560 → ???? 🔴 SELL ZONE: 3631 – 3633 SL: 3638 TP: 3626 → 3622 → 3618 → 3614 → 3610 → 3600 → ???? Summary: ✅ Gold is respecting the bullish outlook from our weekly plan. 👉 Key levels to watch: 3592 (bullish trigger) and 3575 (bearish trigger). As long as price holds above 3550, the bias remains to the upside. Follow MMFLOW TRADING for daily updates and execution setups.
OANDA:XAUUSDShort
by MMFlowTrading
Start shorting gold in a swing trade, target: 3435-3415Gold has just broken through the 3500 level and continued to near 3509. Bullish momentum is strong. Currently, gold has significantly deviated from technical indicators and is driven entirely by market sentiment. However, from a trading perspective, it's difficult to easily find a suitable entry point to participate in a long gold trade. However, since yesterday's 3480 level, I've been increasing my short positions in gold and planning swing trading. Although there has not been a decent pullback yet, there are still reasons to support my shorting of gold! 1. While prices above 3500 have broken through historical highs, this is still uncharted territory, and bulls may be more cautious and hesitant. 2. Market expectations for a rate cut are currently growing, but after the Fed implements the cut, gold could experience a significant pullback, creating a "buy the expectation, sell the reality" phenomenon. 3. Although sentiment is currently driving the market, and technical indicators are completely distorted, there's still room for a technical pullback once market sentiment returns to rationality. 4. Based on current signs, gold may be accelerating towards its peak. These are the reasons why I'm continuing to increase my short positions in gold. As a swing trade, while the holding period may be extended, my target for the short position remains firmly in the 3435-3415 range. If gold breaks below this range, the trend could extend to 3400-3390. Of course, during swing trades, the longer holding period doesn't prevent us from executing short-term, daytime long trades. For short-term, daytime long trades, the current support area worth watching is 3485-3475. We can wait for gold to retrace to this area and then participate in gold long trades.
OANDA:XAUUSDShort
by Trading-Diary_Steffen
I might be the first to start shortingAgainst the backdrop of strengthened expectations of interest rate cuts and Trump's continued tough stance, gold rose above the 3400 mark and continued to above 3410. The upward momentum was relatively strong and market sentiment was optimistic. But the more this happens, the more dangerous it feels! In fact, from a short-term perspective, the foreseeable target area above is: 3415-3425 area, which has only 100-150pips of room for growth from the current gold price. So I think there is no need to continue chasing long gold for the time being. From the current structure, although gold is in a fluctuating upward structure, the trading volume is gradually decreasing after gold broke through 3410, proving that as gold continues to rise, the market has gradually become more cautious. Judging from the candlestick pattern, the trend line constructed from the highs of 3500 and 3440 is currently facing resistance near 3415, while the resistance of the trend line constructed from 3452 and 3440 is currently near 3425. Therefore, the current more obvious resistance area is in the 3415-3425 area. In comparison, there is a larger retracement space below, firstly in the 3395-3385 area, and then in the 3375-3365 area. Therefore, at this stage, I will no longer aggressively chase the rise of gold; instead, I will start shorting gold in batches above 3410, and then patiently wait for gold to retrace!
OANDA:XAUUSDShort
by Trading-Diary_Steffen
Bears’ Last Chance Before the Golden Bull AwakensToday, gold has held 3373 many times during the retracement process, proving that the current market is still dominated by bulls. Currently, gold has touched above 3390 again, showing that buying power is still continuing. This is also the reason why we have been long on gold in the 3378-3374 area many times today, mainly based on the fact that gold is currently in an obvious bullish structure. But we need to note that although gold continues to rise, it is not strong. Most of the time it still fluctuates at a high level. It may be that the market is not highly unanimous in its agreement on the continuation of the strong bull market stimulated by the news, so the short-term volatility of gold will be exacerbated while it is rising. In addition, gold is becoming more cautious as it approaches 3400. In comparison, there is still a certain amount of suppression in the area around 3400, so we must take into account that gold may still retreat after being under pressure in the short term, so I think it is necessary for us to try to short gold again in the 3395-3405 area; once gold retreats as expected, the first test will be the short-term support in the 3385-3375 area. If the support in the 3385-3375 area is effective during the test, then gold may be able to break through the 3400 mark in one fell swoop, or even continue to the 3410-3420 area. So, in short-term trading. At present, we can consider shorting gold appropriately in the 3395-3405 area. If gold retreats as expected, we will first observe the performance of gold in the 3385-3375 area. If it cannot effectively fall below this area, we can adjust the trading strategy and re-enter the long trade!
OANDA:XAUUSDLong
by Trading-Diary_Steffen
Explosive Rally Ahead: Gold Eyes a 3400 BreakoutThere is no doubt that as long as gold is above 3350, the current gold market will maintain a strong bullish structure. After today's sideways trading, gold has clearly established a support platform in the 3370-3360 area. Although it has repeatedly fallen back under pressure in the 3380-3390 area, it has rarely fallen below the short-term support platform of 3370-3360. In addition, the candlestick charts have repeatedly shown long lower shadows, proving that the buying momentum is strong and the market bullish enthusiasm is high! Therefore, in short-term trading, we can try to go long on gold based on the 3370-3360 support level. However, it's important to note that gold has repeatedly come under pressure at the 3380-3390 resistance level. If gold consistently fails to break through this resistance level during its upward trend, bullish sentiment could be affected. Therefore, gold may need to retest support before any further gains. If it falls below the 3370-3360 level during this retest, it could extend to the 3355-3350 level, which is strong support in the short term. Therefore, if gold falls below the 3370-3360 level, it could retest the 3355-3350 level, prompting bulls to launch a counterattack. Therefore, in the short term, given that gold maintains a bullish structure, I would primarily consider going long on gold. 1. Consider initiating a long position in gold in the 3370-3360 area; first, see if gold can break through the 3380-3390 area as expected. 2. If gold retests the support area, consider resuming a long position in the 3355-3350 area.
OANDA:XAUUSDLong
by Trading-Diary_Steffen
Gold’s Next Move = Your Next ProfitOn Friday, gold prices soared due to Powell's dovish remarks, reaching a high of around 3379, and the candle chart showed signs of a V-shaped reversal. From a technical perspective, gold still has the potential to continue to rise, and as of now, gold has not effectively fallen below 3360. While effectively curbing the downward space, it also shows that a certain amount of buying momentum is still continuing. However, gold has not yet effectively broken through the 3380-3390 area, and the upper space has not been completely opened. If gold cannot break through this area, the bullish momentum may gradually weaken in the short term. In order to accumulate enough momentum to break through this area, gold may usher in a pullback in the short term. First, we should focus on the 3355-3345 area below. As long as gold remains above this area, the overall bullish pattern will remain. Therefore, this area is the entry area where we should try to go long on gold for the first time after gold pulls back. Therefore, we currently have two trading options: 1. When gold first hits the 3380-3390 area, consider shorting gold. 2. When gold first hits the 3355-3345 area, consider longing gold.
OANDA:XAUUSDLong
by Trading-Diary_Steffen
1
Gold on Fire: Bulls Eye an Unrelenting Surge to 3365–3375Although gold has been weak recently, we have still achieved impressive results in gold long trading because it touched 3375 and 3358 twice during the rebound process. We have made a total profit of more than 900 pips in the long trading, which can be said to be a very successful transaction in the short term. At present, gold maintains an overall volatile market, but in the short term, gold has never effectively fallen below the 3330-3320 area. What is more obvious is that the dense trading area below is concentrated in the 3330-3310 area, so the buying support below is strong, which greatly limits the downward space of gold; in addition, gold touched around 3358 during today's rebound, and once broke through Friday's intraday high, which to a certain extent strengthened the market bullish sentiment. Therefore, when gold retreats again, there may be more buying funds willing to enter the market. In terms of fundamentals, the ceasefire and peace between Russia and Ukraine have not yet been settled, and the geopolitical situation remains tense; and the market's expectations for the Federal Reserve to cut interest rates are gradually strengthening. Against this background, gold still has the possibility of rising again. Therefore, in the short term, I still prefer to trade gold long. We can consider buying gold in the 3340-3330 area, first looking at the target 3365-3375 area, and even continuing the upward trend to around 3380.
OANDA:XAUUSDLong
by Trading-Diary_Steffen