(2.3) Analysis of gold trading strategy on Monday
Current technical analysis
Weekly level:
Continuous positive closings indicate strong bulls, but the upper shadow line indicates that there is selling pressure at high levels, and there is a need for a short-term correction.
Weekly level key support: 2768 (weekly correction strong support, based on Fibonacci or previous oscillation range).
Daily level:
Friday's high and then fell back to close with a long upper shadow positive line, verifying the short-term top pressure (such as around 2818).
Daily level support area: 2790-2786 (recent top and bottom conversion or moving average support).
Trend direction:
Maintain bullish in the medium and long term, but be wary of short-term correction risks and avoid chasing highs.
Trading strategy recommendations
Entry time:
Long layout: Wait for the price to stabilize after stepping back on the daily support area (2790-2786) and then enter the market in batches.
Aggressive strategy: If the price quickly falls below 2786, you can observe the weekly support near 2768 and then intervene.
Target and risk control:
Upward target: The first target is 2808 (previous high or psychological barrier), and after breaking through, look at 2825 (extension position or channel pressure).
Stop loss setting: The daily long order stop loss reference is below 2780; the weekly layout stop loss can be set at 2760.
Position management:
It is recommended to operate in separate positions. When the support is touched for the first time, try to increase the position with a light position, and increase the position after confirming stabilization.
Conclusion: Maintain bullish gold, but wait patiently for the callback to the key support level to intervene, and strictly control the risk to cope with potential fluctuations. If the price breaks through 2825 strongly, the upward space will open up further.