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Xauusdtradingstrategy

Clash of Titans — Bulls vs Bears: Who Will Win This Round?Gold rebounded quickly after touching 3945 twice, and rebounded again after touching 3953. Three long lower shadows were shown in the candle chart. This area happens to be the 50% area of the previous rising wave. There are obvious signs of bottoming out in the short term. From the overall trend, although the short-term retracement of gold is not small, it has not fallen below the 3930 trend channel support, and has not even effectively fallen below 3950. Therefore, the overall gold trend is still bullish. Judging from the current structure, if gold breaks through the key level of 4010-4030 during the rebound, gold will resume its strong bullish pattern and has the potential to test or even break through the recent highs again; if gold cannot recover the key level of 4010-4030 in the short term, gold may maintain a volatile pattern in the 4010-3950 area or the 4030-3970 area. Therefore, in short-term trading: 1. If gold continues to rebound, we can first consider shorting gold in the 4010-4030 area; then patiently wait for gold to retrace. 2. If gold retreats first, we can first consider longing gold in the 3970-3950 area; then patiently wait for gold to rise.
OANDA:XAUUSDShort
by WaveRider_Steffen
Gold’s Pullbacks Reveal Bearish Strength — 3960 in Sight!After gold retreated from around 4060, it encountered resistance and fell back frequently during the rebound. Although gold still maintained an overall bullish trend, the bullish momentum has obviously weakened, and the short-term gold market has entered a high-level fluctuation stage. Currently, the highest level of gold has reached around 4060. According to the current structure and rebound momentum, if gold cannot effectively break through the recent high of 4060, then gold is likely to form a secondary high point during the oscillation process and form an M-shaped double top structure with the recent high point. Therefore, although gold is in an overall bullish trend, we still cannot ignore the considerable risk of a pullback in the short term before it effectively breaks through the high of 4060. At present, gold is testing the 4000 mark under the pressure of technical patterns. If the 4000 mark cannot withstand the test, gold may continue to retreat to the area around 3960. Therefore, in short-term trading, we can still consider waiting for gold to rebound to the 4030-4040 area and try to short gold, first aiming at the retracement target area: 3990-3980; followed by 3960-3950!
OANDA:XAUUSDShort
by WaveRider_Steffen
Pullback Imminent—Bulls Beware, $80 Risk LoomsGold continues to maintain its strong position and has reached the level around 4000 as expected during the upward process. According to the current structure, the level around 4000 may not be the market top, and there is still room for further growth. However, the market's expected targets have been achieved in the short term, and gold may experience a phased pullback after making a series of false breakthroughs. Looking back at history, every time gold faces an area near an integer mark, it will usher in a good wave of pullback. Gold has experienced a $70-80 pullback around the 3700, 3800, and 3900 levels. Based on this, even if gold starts to pull back $70-80 from 4020, it could potentially retreat to the 3950-3940 range in the short term. Based on its trend, gold began its upward trend around 3820 and has currently reached a high of around 4014, with a fluctuation of $194. Based on previous trend-based gains and fluctuations, gold could experience a pullback at any time. Therefore, in terms of short-term trading, we do not advocate aggressive chasing of high levels for the time being. We can consider going long on gold after gold retreats to the 3970-3950 area depending on the market performance; of course, we can consider starting to short gold in the current area of 4015-4025. Short positions are only for short-term trading and are not suitable for long-term trading at the moment!
OANDA:XAUUSDShort
by WaveRider_Steffen
Ride Both Sides:Short Now, Long Later!Gold continues to rise and hit new highs, and the current high has reached around 3977. There is no doubt that the current gold market maintains a strong bullish trend. From the perspective of market sentiment, the only high point worth paying attention to in the short term is the 4,000 mark. There are currently no other high points that can be used as an effective reference. However, given the extreme highs, caution is advised regarding the current rally, and be wary of signs of profit-taking at market highs. Two key support areas of note are currently located between 3930 and 3920, and between 3905 and 3895.If gold cannot effectively fall below these two key support areas, gold will continue to maintain a strong bullish trend and may hit 4000 in a short period of time; once gold falls below the above two key support areas during the retracement process, gold may continue to repair the retracement trend to the 3880-3860 area. Therefore, in terms of short-term trading, because gold will fall back every time it hits a new high, remember not to go long on gold directly at a high level. You should grasp the rhythm of gold fluctuations. You can consider shorting gold in the 3965-3975 area, and then wait for gold to retreat to the area around 3930-3920 before considering going long on gold appropriately.
OANDA:XAUUSDLong
by WaveRider_Steffen
2
Not the Bottom Yet—Gold Poised to Retest 3800Gold failed to break through 3900 again and fell all the way from around 3897 to 3819, with a drop of $78 again. The two recent declines of this magnitude have greatly hit the confidence and sentiment of market bulls, and the bearish atmosphere in the market may become even stronger. Although gold rebounded again after touching 3819, it failed to hit 3900 twice and has successfully constructed an M-shaped double top structure in the short-term structure. Suppressed by this technical structure, the bullish momentum may be difficult to sustain and will intensify the short-term volatility. The volatility range is likely to be switched to the 3860-3820 area. Therefore, based on the current market changes, we cannot blindly be bullish on gold for the time being. From a technical perspective, gold is under pressure in the 3850-3860 area in the short term, so if gold rebounds and touches near this area, we can give priority to shorting gold, first targeting the retracement target area: 3835-3825 area. Once gold falls below the level around 3820, it is very likely to test the support strength of 3800 again.
OANDA:XAUUSDShort
by WaveRider_Steffen
3
Key Battlefield: Bulls vs Bears at 3700–3800Gold fluctuated in the 3780-3750 range during the day. Although gold is still in a bullish structure overall, the short-term direction is actually not very clear due to signs of gradually weakening bullish momentum. However, from the perspective of morphological structure, gold shows signs of forming an ascending triangle in the short term. Once the ascending triangle is successfully formed, gold will still have the potential to rise and touch 3800, or even continue to rise to the 3820-3830 area with the support of this structure. After all, gold is only slightly weak, but there is no clear signal of reaching the top at present. The premise for maintaining the ascending triangle structure is that gold cannot fall below the 3755 area; so if gold cannot effectively fall below the 3755 area next, it is expected that gold will rebound again. However, it should be noted that once gold falls below the area near 3755, the ascending triangle structure will not hold; it also proves that the current retracement space is insufficient and gold still needs to continue to retrace, then gold may continue the retracement trend to the 3740-3730 area. Therefore, in the current short-term trading, before gold falls below the 3755 area, we can still try to go long on gold in the 3765-3755 area; once gold falls below the area near 3755, we need to consider changing direction from long to short!
OANDA:XAUUSDLong
by PriceSniper_Steffen
Gold Lures Bulls In — But Correction LoomsAfter the start of the Asian session, gold continued its upward momentum to around 3692. However, it is obvious that after touching this horizontal area, the upward momentum of gold has converged, and there are obvious signs of stagflation. Moreover, judging from the trading volume, the current trading volume is not enough to support the continued rise of gold. So I think gold may usher in a good wave of pullback at any time after the rise. From a technical perspective, gold has formed a "double-needle bottoming" structure in combination with the areas near 3628 and 3632. However, since the correction near 3707, gold has shown a clear downward trend. Therefore, according to time and space, under normal circumstances, gold is still in an oscillating structure and may find it difficult to break through the resistance of the 3675-3680 area in a short period of time. But the fact is that on Friday, stimulated by the news, gold not only broke the volatile pattern that should have appeared, but also broke through the resistance of 3675-3680 in one fell swoop; when the time and space are not yet in place, the intention of gold's sharp rise may be to eliminate the short chips that have been recently arranged before gold really starts to pull back, and there is also suspicion of luring the bulls who follow the trend. Based on space calculations, it is expected that the maximum rise in gold this time will not exceed the 3710-3715 area, and it may even start to pull back again before reaching this area. Therefore, we should not be excessively bullish on gold at this point. On the contrary, we can still short gold in batches above 3680, and the retracement target will first target the 3665-3655-3645 area.
OANDA:XAUUSDShort
by PriceSniper_Steffen
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
Fed Catalyst: The Bear AwakensGold rebounded after touching 3660 and is currently fluctuating in a narrow range around 3685. Gold is currently trading relatively cautiously, apparently waiting for the Federal Reserve's interest rate decision to indicate its short-term direction. How to formulate a trading plan for the Federal Reserve interest rate decision market? In fact, in the short term, I think there will not be much room for gold to continue to rise, and the short-term peak may be in the 3705-3715 area; in addition, regarding the expectation of interest rate cuts, I think the Federal Reserve will adopt a step-by-step approach to announce a 25 basis point interest rate cut, and as for Powell’s attitude, I think it may rely more on the feedback from US employment data and inflation data to decide whether to continue to cut interest rates within the year. The attitude may not be obviously dovish, so I think there is limited room for short-term increases. Since I think the short-term peak of gold is in the 3705-3715 area, and the short-term resistance area is around 3690. Therefore, I will definitely ambush and short gold before the news is announced. Of course, the transaction needs to be set up in combination with the risk resistance ability of my account. At present, I tend to divide the upper space into two areas, namely 3685-3695 and 3705-3715. I will mainly short gold in batches around these two areas. Once gold falls as expected, I think it will first test the intraday low around 3660. Once it falls below this area, I think gold is likely to continue to test the area around 3635-3625. As for whether gold can take advantage of this opportunity to test the area around 3600. I believe I will overcome my greed and will not take risks to gamble for gains beyond my cognition. I will need to make a secondary judgment based on market fluctuations at that time.In any case, I would favor a short gold setup, so let’s hope for a bearish recovery!
OANDA:XAUUSDShort
by PriceSniper_Steffen
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
Bearish Pressure Mounts: Will 3600 Hold or Collapse?In the short term, gold has not been able to stand above 3655 during multiple rebounds, and even closed below 3650 at the close of last Friday. Although it is far from the level of collapse, there are obvious signs of profit-taking in some chips. As the center of gravity of gold slowly shifts, the short-term resistance area will gradually move down to the 3635-3645 area. If gold cannot break through this area during repeated fluctuations, the market's downward momentum will be further strengthened! It should be noted that although the center of gravity of gold is gradually shifting downward, the overall bullish structure is still maintained; and against the backdrop of interest rate cut expectations, gold's retracement space should be limited before the Federal Reserve announces its interest rate decision. The first thing we need to pay attention to is the support of the recent low point of 3615-3605. Gold is likely to rebound again after testing the support of this area, and take this opportunity to try to intensify short-term volatility! However, once gold falls below the support of this area, it may continue to the 3590-3580 area. Therefore, for short-term trading, since gold is still fluctuating in the support and resistance areas, it can be treated as regional fluctuations for the time being; but as the center of gravity of gold gradually moves downward and 3675 is expected to become a temporary high point, we can maintain the strategy of shorting at high levels as the main strategy, supplemented by the idea of going long at low levels. 1. Consider shorting gold against the resistance zone of 3635-3645, with the primary retracement target at 3620-3610. 2. If gold fails to break below the 3615-3605 area during a pullback, we could consider going long on gold, with the primary rebound target at 3630-3640.
OANDA:XAUUSDShort
by PriceSniper_Steffen
Battle Lines Drawn — Which Comes First, 3700 or 3600?Gold started to fall from around 3675, but failed to effectively fall below 3620 many times during the retracement, so the current retracement cannot be regarded as a market reversal. If the gold market has really peaked, I think the minimum requirement is to effectively fall below 3620, but it is obvious that this condition has not been met yet. Under the current conditions, it can only be regarded as a pullback correction. So at this stage of trading, we cannot be overly bearish on gold. Currently, gold bulls and bears are competing with each other for control, and the price will remain in a wide range of fluctuations in the short term. However, since gold rebounded from 3620, the bullish structure has not been destroyed. The short-term support below is in the 3635-3625 area, and further strong support is in the 3615-3605 area. If gold fails to break below the 3635-3625 area, it will favor bulls and could serve as a springboard for further gains. Once gold continues its upward trend and breaks through the 3665 area, it could potentially reach the 3680-3690 area. Therefore, in short-term trading, since gold remains bullish, we can continue to buy gold within the 3635-3625 support area, with the primary target being the 3660-3670 area.
OANDA:XAUUSDLong
by PriceSniper_Steffen
2
All Time High, again?!Gold Keeps Climbing & Traders Keep Selling🚀Gold printed a new all-time high. Last Friday, now Monday and today. You sell. You lose. The minute it pulls back, you try again. Same story on repeat. Thousands of beginner traders are caught in this loop right now. Sell → Stop Loss → Frustration → Sell again because now for sure it will reverse, because it has to... wake up and stop this loop. I. The Mental Bias – Why ATHs Trigger Dumb Decisions The human brain hates “expensive”. Expensive feels wrong to buy, so you try to sell it, forgetting that expensive can get even higher in price. We are wired to hunt bargains, not pay premiums, but Gold at ATH doesn’t follow shopping logic. “I missed the buy, so I’ll catch the drop” is Ego trading, not strategy. People confuse exhaustion candles with reversals. ATHs are not automatic sell signals; they are liquidity traps. Your brain wants to be right, not profitable. II. Why GOLD is Different – It Doesn’t Behave Like Forex Pairs Gold = Safe Haven. It attracts massive capital in global political & economic uncertainty. When XAUUSD breaks ATH, it often does so to induce sellers, not reverse. It will breathe, drop 100 pips, trap more shorts, and rally again. This is by design, due to the fact that the market runs on pain and liquidity. III. So What Should You Actually Do? • Stop shorting just because it’s “too high”. Learn to wait or buy pullbacks. • Don’t trade out of regret. Trade from a solid plan. • Use bias on different time frames from high to low, structural zones and key levels. • Align with HTF bias. Intraday trades should flow with the structure. • Gold gives pullbacks, if you miss them, wait, don’t chase reversals until the fire in price action settles with solid confirmations. 🌟Conclusion to follow: It’s not Gold that destroys accounts, but panic, ego, lack of patience and the absence of structure. XAUUSD isn’t your enemy, but as always your emotions are. Until you learn to keep them in check, trade less and …. Survive ATH season by following the structure and leave moods & fake hopes out of the market. If this article helped you today and brought you more clarity: Drop a 🚀 and follow us✅ for more trading ideas and trading psychology. Thank you.
FOREXCOM:XAUUSD
by GoldMindsFX
4
Breaking Free: How Bears Can Win Back in GoldAfter touching the trend line resistance area of 3640-3650, gold fell back as expected, showing a high "doji" in the hourly candle chart and signs of stagflation. It is expected to become a market turning point in the short term. The gold market may usher in a good correction in the short term due to this technical turning point. However, we need to note that as long as gold remains above 3580, the current situation is still a strong bullish pattern, so we must pay attention to the extent of the retracement. As gold continues to rise, the current short-term support is at 3620-3610, so I think it is necessary for gold to retrace its support in this area. Once gold is supported in this area, it may rebound again and retest the high area of 3640-3650. If gold falls below the short-term support area of 3620-3610, then gold will further retrace its steps to 3590-3580, which is the lifeline of bulls and the dividing line between bulls and bears. If gold falls below the 3590-3580 area during the backtest, the current gold bull advantage will no longer exist, and the bears will likely regain control of the situation. As most long funds take profits and the market experiences panic selling, gold will completely turn into a bearish trend and fall further. At present, I still hold short position in gold, and first aim at the short target area: 3620-3610 area. Once gold falls below this area, the target area will be postponed to 3600-3590 area. I am currently holding my short position and have already realized some profits. I very much hope that gold will fall back to the target area as expected!
OANDA:XAUUSDShort
by PriceSniper_Steffen
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
Critical Zone 3610–3620:Shorts Get Ready！After retreating to around 3579, gold rebounded again and has now reached a high of around 3614. Fortunately, the gold retracement gave us the opportunity to safely exit our previous short positions, and we accurately seized this pullback opportunity to close all our previous short positions at a break-even point. As I said, closing my short position does not mean that I am not optimistic about the gold pullback, but in the process of executing swing trading, we need to constantly adjust to make our short entry price more favorable to us. Therefore, closing the short position entered at a relatively low price previously gives us the flexibility to enter the short position again at a higher price. Gold was quickly pulled up to around 3614 in the short term. There was almost no headwind in the short term. Driven by the dual expectations of interest rate cuts and risk aversion demand, the bullish momentum was strong. However, in the short term, we are currently facing the 3610-3620 trend line resistance area, so I still do not advocate continuing to chase more gold; on the contrary, no matter what, I will continue to try to execute swing trading to short gold in the 3610-3615 area. Although the bulls have risen strongly, it does not actually provide a good position to enter the market to go long on gold. Since we cannot participate in long transactions, we can only try to short gold in waves during constant adjustments. On the premise of controlling trading risks, as long as we are not afraid of short-term floating losses, once gold begins to collapse, we will be the first traders to reap the benefits of the short position. Therefore, when gold is facing the trend line resistance area of 3610-3620, I first considered and executed a short trade at 3610-3615 as planned, hoping that the gold market will have a good retracement as some unsteady funds show signs of profit-taking!
OANDA:XAUUSDShort
by PriceSniper_Steffen
Extended Pullback Ahead: A Golden Opportunity for ShortsDue to the stimulation of the NFP market, gold continued to refresh its historical highs, continued to break through the recent high of 3578, and touched the 3600 mark as expected. According to the current market structure, the bullish momentum of gold is strong, and there is no obvious peaking signal in the short term. As the center of gravity of gold continues to rise, the current short-term support will move up to the 3570-3550 area, and the short-term strong support is near the 3530 area. However, in this extreme market, we shouldn't blindly chase gold at high levels to avoid being buried in a crash. Two key details emerge from this: 1. Gold experienced a significant pullback near 3578, retreating to around 3511. 2. Gold failed to hold above 3600 before Friday's market close, falling back to around 3586, indicating some profit-taking. Furthermore, the current surge in the gold market is driven by news and, to some extent, has deviated from technical indicators. Market sentiment is extremely euphoric, making it vulnerable to a sudden collapse during this period. Furthermore, after this period of digestion, expectations of a rate cut have largely faded, potentially leading to a potential exit by large investors and panic selling. Therefore, I do not think that chasing gold at high levels is a rational and correct strategy. Gold may still retrace to the 3570-3550 area in the future, or even continue to retrace to the area around 3530. Of course, this is another opportunity to make short profits in the short term. I currently hold a short position with the average price around 3582. If you also hold a short position like me, I think we can seize the profit opportunity of the gold pullback next!
OANDA:XAUUSDShort
by PriceSniper_Steffen
Brace Yourself: NFP May Send Markets Crashing AgainYesterday, gold rebounded after retreating to the 3537-3535 area, reaching a high of around 3561. Although gold has rebounded again, I believe its potential is limited. Because after gold retreated deeply from around 3578 to around 3511, its structure has been gradually changing, and the rebound was not strong. Judging from the current trend, 3578 is expected to form a temporary high point, and the withdrawal of large funds will easily stimulate gold selling sentiment in the short term, especially for those who are afraid of heights and are not firm. There is an NFP market today. If gold cannot break through 3565 before NFP, then gold is likely to fall again and fall below the area around 3535. Therefore, in terms of short-term trading, I will still insist on shorting gold on rallies. As long as gold does not exceed the area around 3565 during the rebound, 3578 may be successfully confirmed as the interim high point, and gold may usher in a good pullback again. We are looking forward to the reappearance of the deep pullback market during yesterday’s Asian session, which will bring us huge profits again.
OANDA:XAUUSDShort
by PriceSniper_Steffen
Gold’s Next Move: DOWN!!!Although gold continues its strong upward trend, it still provides opportunities for pullbacks during the day. For example, it hit a low of 3470-3467 yesterday. Currently, the highest price of gold has reached around 3550. Gold continues to set new historical highs. There is no price behavior and technical resistance above it as a reference. But obviously, as long as gold remains above 3540, I will not choose to aggressively chase gold at high levels. On the contrary, while gold is rising, I will still try to short gold at the top while setting protection. In terms of price behavior, gold started to rise from around 3322 and has reached around 3550 so far, with an increase of up to $228. Although there has been no decent retracement during this period, this strong momentum is indeed easy to form a combined force. However, once the market returns to rationality, the decline will definitely not be small. So at the current stage, I do not advocate going long on gold. On the contrary, I will actively look for opportunities to short gold! In the short term, we first need to observe gold's performance in the 3540-3530 area. If gold cannot fall below this area during the retracement, it may have the potential to continue to rise. If gold falls below the 3540-3530 area, the first retracement target will be the 3525-3515 area. If this area is broken, it is likely to continue to 3500-3490.
OANDA:XAUUSDShort
by Trading-Diary_Steffen
Gold Freefall AheadIntraday Trading Adjustments: 1. Closed a short position near 3470 (entry price: 3480), one of the lowest entry prices for a planned swing trade, locking in a profit of nearly 100 pips. 2. Closed a short intraday long position near 3491 (entry price: 3478), locking in a profit of 130 pips. 3. Immediately after closing the long position, added another short position near 3491, still planning a swing trade. Current Position (Swing Trading Plan): I continue to hold short positions with entry prices near 3493, 3505, and 3491. For swing trading, the first target area to consider for a pullback is 3460-3450, followed by 3435-3425. Market Analysis: While gold has not yet seen a significant decline, it has shown initial signs of topping out. A double-top formation with 3508 as the apex and 3495 as the secondary apex may form a significant resistance level in the short term, prompting a further pullback in gold. According to the current structure, as long as gold remains below 3595, it will help to successfully establish a double top structure; in addition, DXY has a need to continue to rebound in the short term, which is not conducive to the continued rebound of gold to a certain extent, and has a certain suppressive effect on gold. Therefore, at this stage, I will continue with the swing trading plan and hold the above short positions. The primary target of the retracement is considered to be the 3460-3450 area. If gold falls below this area during the retracement, it may even continue to the 3435-3425 area.
OANDA:XAUUSDShort
by Trading-Diary_Steffen