Gold prices experienced two rounds of bottoming out and rebounding during the day. The first time, after touching around 4417, gold rebounded to around 4580. The second time, gold touched around 4513 and rebounded again, reaching around 4557. It is evident that after a period of consolidation and digestion, market sentiment has improved significantly, bullish sentiment is recovering, and more funds are willing to start trying to buy gold!
Moreover, gold has broken out of its recent trading range and stabilized above 4500 in the technical structure. As multiple important technical support structures have been built in the consolidation structure, the support structure below has been consolidated and strengthened. The gradual upward shift of the pullback lows and the center of gravity is inseparable from the role of the support below. Although gold prices rose and then fell twice, it wasn't because the gold bears were strong, but rather because gold needed more liquidity to accumulate more momentum for an upward breakout.
Therefore, after a pullback, gold may retest the resistance zone:
Short-term technical support levels: 4520-4500 / 4480-4460
Short-term technical resistance levels: 4600-4620 / 4670-4690
Therefore, in short-term trading, if gold first pulls back to the 4520-4500 area, I will prioritize going long on gold; if gold rebounds as expected and touches the 4600-4620 resistance zone for the first time, I will try to go short on gold.
Moreover, gold has broken out of its recent trading range and stabilized above 4500 in the technical structure. As multiple important technical support structures have been built in the consolidation structure, the support structure below has been consolidated and strengthened. The gradual upward shift of the pullback lows and the center of gravity is inseparable from the role of the support below. Although gold prices rose and then fell twice, it wasn't because the gold bears were strong, but rather because gold needed more liquidity to accumulate more momentum for an upward breakout.
Therefore, after a pullback, gold may retest the resistance zone:
Short-term technical support levels: 4520-4500 / 4480-4460
Short-term technical resistance levels: 4600-4620 / 4670-4690
Therefore, in short-term trading, if gold first pulls back to the 4520-4500 area, I will prioritize going long on gold; if gold rebounds as expected and touches the 4600-4620 resistance zone for the first time, I will try to go short on gold.
Trade aktif
Gold has once again tested the bottom and rebounded, stabilizing above 4500. The test of the lower support level remains effective, and gold is just waiting for a catalyst to break out. I will maintain my long position and set a target of TP above 4530. I look forward to waking up tomorrow morning to find that profits are where dreams begin!Trading ditutup: target tercapai
🙋♂️Good news: Yesterday's expectations have come true! Last night, based on the previous short-term pullback low of around 4513, I started a long position in gold, and before going to sleep, I placed a limit order to buy gold at 4486. This morning, the second limit long position was activated, and during the upward movement, it reached a high of around 4619, clearly hitting my target TP of 4535 as expected. I imagine everyone woke up to find their account balances had increased significantly. Congratulations to those who followed my long trading plan!Unfortunately, gold did reach my expected short entry zone of 4600-4620 as predicted, but I was asleep and therefore did not participate in the short trade. If you had followed my short trading strategy, you would have likely made satisfactory profits in both long and short positions. It is a pleasure to witness this moment with you all. I'm glad to have witnessed this moment with everyone. Congratulations! 💯
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.