The more you try to catch a trend, the easier it is to miss out!
Gold Price Analysis: After opening today, gold rose first and then fell, but overall it is still in the normal rhythm of a range-bound market. From a technical point of view, the Bollinger Bands on the daily and 4-hour charts continue to narrow, and the moving average system is converging, forming a typical range-bound consolidation pattern. Before the range is effectively broken, there is no need to predict a one-sided trend in advance. At present, trading is more suitable for short-term swings and profit accumulation. From the daily chart perspective, gold did not experience a trend breakout last week due to fundamental events. It continued to fluctuate around the moving average band, and the rhythm of the movement was basically in line with previous expectations. As the fluctuation range continues to narrow, the market is waiting for a new catalyst to break the balance. Although the short-term direction is not yet clear, considering the overall downward trend in the medium term, the market is still more inclined to move downward after the fluctuation. At the beginning of this week, pay close attention to the moving average resistance zone in the 4080-4100 area. The first resistance level to watch is around last week's high of 4115, while further strong resistance lies in the 4140-4150 area, which is the trend line and the upper edge of the range. On the downside, pay close attention to the 4000 psychological level, followed by support around 3980, which is the trend line and the lower edge of the range. Looking at the hourly chart, the gold price movement at the beginning of the week is not expected to be very clear. On the one hand, the market is still digesting the impact of the expectation of the resumption of negotiations between the US and Iran; on the other hand, the non-farm payroll data will be released in the second half of the week, and the market is in a wait-and-see mood. It is expected that the short-term fluctuation range may further narrow. For intraday trading, pay close attention to the short-term resistance area of 4080-4090, and further focus on the strong resistance area of 4110-4120; on the downside, watch the support area of 4030-4020, with the core support still focused on the 4000-3980 area.
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Having traded for many years, I've always followed an ironclad rule: use larger timeframes to determine direction, and smaller timeframes to find entry points. The market is always cycling through periods of ups and downs, and consolidation is a common tactic used by major players to shake out retail investors. Never let short-term daily fluctuations disrupt your weekly chart strategy. Currently, the battle between bulls and bears is fierce, with the market repeatedly pulling in and out of its trading range. The more it consolidates within this range, the more crucial it is to adhere to the following principles: before breaking key support levels, don't chase the downtrend; before breaking strong resistance levels, don't blindly chase the uptrend. Only by clearly understanding the wave cycles and the rhythm of the bull-bear battle can you preserve profits and avoid the risk of repeated stop-losses during periods of consolidation.Сделка закрыта: достигнута тейк-профит цена
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