The 4-hour price chart remains extremely weak, with further oversold conditions (indicators are no longer very meaningful). Long positions are not recommended at this time. In such a weak market, the courage to enter is crucial. Previous bull markets also maintained extremely strong upward trends. For leveraged traders, understanding the trend is even more important in the short term. Overall, any rebounds below the 4700 level are short-lived. Identify the trend and trade accordingly. Continue to short on rallies in the Asian session, with a small short position at 4500, adding to the position in the 4520-30 area, and a stop-loss above 4540. The target is to hold for the medium to long term. The overall bearish pattern has not changed. In the short term, first look for a break below 4400, and patiently use the remaining position to target 4000-3880!
XAUUSD GOLD XAUUSD XAUUSD xauusd
XAUUSD GOLD XAUUSD XAUUSD xauusdTrade ativo
Today in the Asian market, I posted a message indicating that after gold prices fell below $4,300, the downside target of $4,000 had been basically reached; then today's intraday low touched $4,099, and the psychological support level of $4,000 was very close. Short-term resistance is around $4,500 – consider shorting when the price approaches this level. For more market advice, you can visit my trading circle.
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