XAUUSD:5/12 Today's Market Analysis and Strategy

Dec 5

Gold technical analysis
Daily resistance 2700, support below 2580
Four-hour resistance 2653, support below 2622

Gold operation suggestions:
The above pattern shows today's oscillation range pattern, and also estimates the rhythm of fluctuations. Today's short opportunities are 2657 and 2666. Only when 2666 is broken will the thinking be readjusted. 2632/33 is also very critical. Recently, it has stopped here for many times to rebound. It has been emphasized many times to arrange long orders near 2632. Today is the same. If there is a suitable low point below, continue to do more. The current idea is to short below 2657 and buy more above 2632!

Dec 5

Trade active

Jiesse kindly reminds you: Don’t choose high-frequency scalping transactions. Wasting a lot of time will make you anxious and crazy, and finally lose yourself, your job and your good life.

Dec 5

Note

Gold is running the same as the chart I drew, and it rebounded after reaching the support area.

Dec 5

Trade closed manually

Dec 6

Note

Judging from the current market trend, gold broke through the low and fell weakly in the Asian session today. The opening continued the pattern of breaking through 2633 in the US session overnight and directly weakened and fell. This will be the top and bottom conversion pressure level during the day, and further is 2643, the high point of the rebound correction after the sharp drop in the US session. The data on Wednesday and Thursday were both bullish, and did not allow gold bulls to attack, indicating that gold bulls lack confidence. Since it has broken through the support of 2633 and 2620 in succession, gold will continue to short today after the rebound, but it is not suitable to chase shorts directly at low levels. The previous low position of 2605 below is more critical. It may not be able to continue to increase in volume after a sharp drop. Only by breaking through 2605 will it continue to fall. There is NFP data today. Before the US session, pay attention to the suppression points of 2633 and 2643 and choose to short at a high level. If you directly test the support point of 2605, you will arrange long orders.