Has gold’s expected sharp drop signaled a market top?

לפני 3 ימים

Gold’s movement yesterday was nothing short of thrilling—it broke down and plummeted from high levels, ultimately failing to hold above the critical 4,000 mark.

On the 1-hour chart, the moving averages have started to turn downward. From the 1-hour candlesticks, it’s clear that upward momentum has weakened significantly, and a double-top pattern has already taken shape on this timeframe. In the short term, gold is under pressure below 4,000, so any rally to higher levels presents an opportunity to enter short positions.

The current rhythm of gold is also crucial. If it doesn’t see a sharp pullback during the Asian session and instead maintains strength into the European session, continuing its slow, bullish upward crawl, gold may adjust by "trading time for space." In this case, it could extend its upward move, then surge strongly amid news-driven catalysts to complete a market washout. Therefore, whether gold shows strength or weakness today will be a key determinant.

Anyway, since gold has begun to fall from its highs, it's best to continue shorting in the short term. If the market continues to weaken, we can't rule out a short-term peak in gold.

Resistance Level:3995,4001,4015

Resistance Level:3944,3930,3910

Trading Suggestions:

① Short gold yesterday after it started falling from 4058 and rebounded to 618, or around 4015.

② Short gold around the top-bottom reversal point of 4000.

Short positions entered yesterday with me at 3977 can continue to be held. If the market rises to 4000, increase your position and continue shorting gold.

For specific trading decisions, please follow my real-time updates. I update my trading ideas and strategies daily. If you don't have a plan or strategy for gold trading and are struggling to achieve consistent and stable profits, you can refer to and follow my updates as a reference and guide to help you avoid mistakes.

לפני 3 ימים

עסקה פעילה

If you don't have a plan or strategy for gold trading and are struggling to achieve consistent profits, you can refer to and follow my updates for guidance and help you avoid mistakes.