📊From the current trend, gold is still running in the fifth wave of rising structure started from 2832. The overall trend remains bullish, and it is only a matter of time before the 3500 high is refreshed. Despite this, there was a significant dive in the Asian session today, indicating that the rising rhythm of the fifth wave is not as smooth and unilateral as the third wave, and the trend may be more tortuous.
📊On the 4-hour chart, the 3315 line is the key support. It is not only the important golden section (0.5), but also the position of the MA66 moving average. Gains and losses at this position determine whether the mid-term bull structure can continue.
📊On the hourly chart, the annual moving average support is also located near 3315, while the 0.618 retracement is at 3305, which is also the starting point of the previous rise. Therefore, the 3305-3315 range constitutes a short-term key support belt. If this area is effectively defended, the bulls are expected to exert their strength again.
📊At present, the upper pressure area is mainly concentrated in the 3360-3370 range, which is the previous top and bottom conversion area, and also a potential short-term rebound suppression position. If the gold price fails to effectively break through the high of 3436, it can still be regarded as a fourth wave correction starting from 3201.
✅Therefore, the trading strategy should focus on the following key points:
🔴Resistance level: 3360-3370, the key pressure area for short-term rebound;
🟢Support level: 3305-3315. If it stabilizes effectively, you can intervene with long orders;
✅If it effectively breaks through 3370 and stabilizes above it, it may start a new round of strong upward movement and evolve into a V-shaped reversal trend of "how much it falls, how much it rises", and the market will become more violent. In terms of operation, we should guard against the shock-induced long-short behavior of "washing out longs and washing out shorts". Before the current structure is destroyed, it is still treated as a wide range of shocks. Pay attention to the long-short game in the 3305-3370 range, and flexibly sell high and buy low.
📊On the 4-hour chart, the 3315 line is the key support. It is not only the important golden section (0.5), but also the position of the MA66 moving average. Gains and losses at this position determine whether the mid-term bull structure can continue.
📊On the hourly chart, the annual moving average support is also located near 3315, while the 0.618 retracement is at 3305, which is also the starting point of the previous rise. Therefore, the 3305-3315 range constitutes a short-term key support belt. If this area is effectively defended, the bulls are expected to exert their strength again.
📊At present, the upper pressure area is mainly concentrated in the 3360-3370 range, which is the previous top and bottom conversion area, and also a potential short-term rebound suppression position. If the gold price fails to effectively break through the high of 3436, it can still be regarded as a fourth wave correction starting from 3201.
✅Therefore, the trading strategy should focus on the following key points:
🔴Resistance level: 3360-3370, the key pressure area for short-term rebound;
🟢Support level: 3305-3315. If it stabilizes effectively, you can intervene with long orders;
✅If it effectively breaks through 3370 and stabilizes above it, it may start a new round of strong upward movement and evolve into a V-shaped reversal trend of "how much it falls, how much it rises", and the market will become more violent. In terms of operation, we should guard against the shock-induced long-short behavior of "washing out longs and washing out shorts". Before the current structure is destroyed, it is still treated as a wide range of shocks. Pay attention to the long-short game in the 3305-3370 range, and flexibly sell high and buy low.
✅Real-time Guidance Service
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅Real-time Guidance Service
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
✅Reasonable Trading Plan
✅2-4 Trading Signals Per Day
✅Accuracy Rate Above 95%
✉️VIP Channel : t.me/+BNoDscZgJRkzOWI1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.