Gold surged and then retreated yesterday, closing with a bullish candlestick pattern with an upper shadow. This candlestick pattern reveals two signals. The bullish body indicates that the overall market still has upward momentum, but the upper shadow suggests resistance near 3791. Selling pressure from above intensified as it approached this key resistance level, and today the market is testing support further downward.
Today, my strategy is to trade in a range, with resistance between 3780 and 3790. Support is the previous low at 3730. Within this range, short at highs and long at lows.
Based on the current trend, resistance at 3780 is effective, and short positions have successfully taken profits. Currently, the price is near 3735, so it's a good time to open a small long position to see if there's support at this level. The rebound target is around 3750/3760, with a stop-loss at 3728.
In the short term, until the market breaks below 3730-3700, the market remains range-bound and cannot be considered a reversal. Therefore, try to go long near the support level. It is best to go long in small positions in batches.
Today, my strategy is to trade in a range, with resistance between 3780 and 3790. Support is the previous low at 3730. Within this range, short at highs and long at lows.
Based on the current trend, resistance at 3780 is effective, and short positions have successfully taken profits. Currently, the price is near 3735, so it's a good time to open a small long position to see if there's support at this level. The rebound target is around 3750/3760, with a stop-loss at 3728.
In the short term, until the market breaks below 3730-3700, the market remains range-bound and cannot be considered a reversal. Therefore, try to go long near the support level. It is best to go long in small positions in batches.
Thirteen years of experience in gold analysis: stable returns are the key to long-term
👇Free Strategy Guidance Channel👇
t.me/Violet_home0808
👇Free Strategy Guidance Channel👇
t.me/Violet_home0808
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
Thirteen years of experience in gold analysis: stable returns are the key to long-term
👇Free Strategy Guidance Channel👇
t.me/Violet_home0808
👇Free Strategy Guidance Channel👇
t.me/Violet_home0808
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.