Gold shorts may reach 3290
This week, gold continued to fall after opening high to 3452 on Monday, showing a trend of opening high and closing low. The daily line closed negatively for several consecutive days, accompanied by a cross star adjustment, indicating that shorts are still dominant and short-term corrections have not yet ended. The 4-hour level is below the middle track of the Bollinger band, and the rebound has been repeatedly under pressure, indicating that the short-term is still weak, and the operation continues to focus on high altitude.
Key point analysis
1. Resistance area
3368-3370 (today's starting point, key suppression)
3380-3383 (4-hour Bollinger middle rail + this week's oscillation upper edge)
3400-3408 (bullish reversal confirmation point)
2. Support area
3340-3345 (short-term bullish defense position)
3315 (short-term target after breaking 3340)
▶ Core idea:
If the rebound 3368-3370 is under pressure, short-term short-selling
If the 3340 support is effective, short-term rebound can be expected
If it falls below 3340, look down to 3315
Today's trading strategy
1. Short position layout (main strategy)
Entry point: 3368-3370 (first touch short)
Add position point: 3373-3376 (second pressure to cover short)
Stop loss: above 3381 (short position invalid if break)
Target: 3355 → 3345 (see 3315 if break)
2. Long position auxiliary (short-term game)
Entry condition: 3340 has not been broken, and there is a stabilization signal
Stop loss: below 3335
Target: 3360-3368 (exit the market as soon as the rebound)
Risk warning Friday's market is volatile, beware of profit-taking or sudden rebound at the end of the day. If it breaks through 3380, short positions need to be exited, and observe whether it turns to shock or reversal. Avoid chasing orders at the middle price (3350-3365), and wait patiently for key positions to trade.
This week, gold continued to fall after opening high to 3452 on Monday, showing a trend of opening high and closing low. The daily line closed negatively for several consecutive days, accompanied by a cross star adjustment, indicating that shorts are still dominant and short-term corrections have not yet ended. The 4-hour level is below the middle track of the Bollinger band, and the rebound has been repeatedly under pressure, indicating that the short-term is still weak, and the operation continues to focus on high altitude.
Key point analysis
1. Resistance area
3368-3370 (today's starting point, key suppression)
3380-3383 (4-hour Bollinger middle rail + this week's oscillation upper edge)
3400-3408 (bullish reversal confirmation point)
2. Support area
3340-3345 (short-term bullish defense position)
3315 (short-term target after breaking 3340)
▶ Core idea:
If the rebound 3368-3370 is under pressure, short-term short-selling
If the 3340 support is effective, short-term rebound can be expected
If it falls below 3340, look down to 3315
Today's trading strategy
1. Short position layout (main strategy)
Entry point: 3368-3370 (first touch short)
Add position point: 3373-3376 (second pressure to cover short)
Stop loss: above 3381 (short position invalid if break)
Target: 3355 → 3345 (see 3315 if break)
2. Long position auxiliary (short-term game)
Entry condition: 3340 has not been broken, and there is a stabilization signal
Stop loss: below 3335
Target: 3360-3368 (exit the market as soon as the rebound)
Risk warning Friday's market is volatile, beware of profit-taking or sudden rebound at the end of the day. If it breaks through 3380, short positions need to be exited, and observe whether it turns to shock or reversal. Avoid chasing orders at the middle price (3350-3365), and wait patiently for key positions to trade.
Trade active
After failing to reach the 3340 level in the European session, gold formed a double bottom structure in the short term and pulled back until it rebounded rapidly in the US session. Currently, the resistance at 3370 is suppressed. However, from the hourly line structure, the previous top and bottom structure has not been broken. Operationally, it is still possible to operate at a high altitude.
Operation suggestions,
Gold short positions around 3370-3375, stop loss 3385. Downward targets 3355, 3340.
Trade closed: target reached
From the 4-hour analysis of gold, there are repeated resistances from the bulls before the downward break; once the downward break, the market will go further down, and the focus is on 3340. The upper short-term 3400 is still the key. Only by breaking the bulls can the rebound continue. In terms of operation, sell high and buy low, and pay attention to the breakthrough!There are too many long orders at high levels in gold at present, and the market will not rise easily. The current international situation is so tense, and gold is still slowly declining. It is difficult to rebound sharply in this situation.
Today's operation ideas for gold;
The upper short orders can be entered at the 3370-75 line, with a stop loss, the target is more than 20 points, and the upper 3400 line can be covered.
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.
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.