After gold broke through the key support levels of 4800 and 4760, its technical pattern is clearly bearish. Furthermore, after filling the upper edge of Monday's gap, gold has retreated again, indicating a further downward shift in the short-term price structure and a stronger need for technical correction.
Moreover, after gold broke through the key support level of around 4760, the bulls may not be able to mount an effective counterattack in the short term. Conversely, the downward trend may continue to the 4700 or even 4660 area.
Therefore, given the relatively active bearish momentum, our current strategy is mainly to short gold after any rebound.
Short-term technical support levels: 4700-4680 / 4660-4640
Short-term technical resistance levels: 4760-4780 / 4810-4830
Therefore, in terms of short-term trading, if gold rebounds to the 4760-4780 area, I might consider shorting gold; if gold retraces to the 4700-4680 area first, I might consider going long on gold.
Moreover, after gold broke through the key support level of around 4760, the bulls may not be able to mount an effective counterattack in the short term. Conversely, the downward trend may continue to the 4700 or even 4660 area.
Therefore, given the relatively active bearish momentum, our current strategy is mainly to short gold after any rebound.
Short-term technical support levels: 4700-4680 / 4660-4640
Short-term technical resistance levels: 4760-4780 / 4810-4830
Therefore, in terms of short-term trading, if gold rebounds to the 4760-4780 area, I might consider shorting gold; if gold retraces to the 4700-4680 area first, I might consider going long on gold.
Trade ativo
I've already bought gold around 4695 as planned, and added to my long position around 4671. I'm hoping gold can rebound to the 4720-4740 area. That way, I can make a decent profit by betting on a gold rebound. Wish me luck!Trade fechado: objetivo atingido
Good news: Overnight, gold precisely retraced to my expected buying area of 4700-4680. As per my original trading plan, I started buying gold near 4695, and then seized the opportunity to add a long position near 4671, setting a TP of 4725. Gold is currently trading at 4742. Clearly, after the start of the Asian session, gold immediately touched my set TP, thus locking in a considerable profit. Congratulations to those who steadfastly executed their long-term trading strategy! The market has once again validated the correctness of my trading logic, and I possess the courage and determination to overcome any challenge! Congratulations!
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