Gold Spot / U.S. DollarUpdated XAUUSD| Bull trend trading strategy
✅In the morning, the price of gold stabilized above 2700 and started a rebound trend. The current price has broken through 2720 and reached a high of 2733. From the weekly chart, gold is expected to further test the key pressure area above 2750. Therefore, it is not appropriate to blindly predict the top at present. Although the price of gold may test the historical high again, it does not mean that it will definitely set a new historical high.
✅The overall trend is still dominated by bulls. It is recommended to follow the trend and give priority to long positions after the correction. If the price of gold wants to successfully stabilize at $2730, the retracement is not expected to be too large. Therefore, the focus below should be on the important defensive support area of 2718-2713. If the price of gold stabilizes in this support area, it can continue to look to higher targets. The short-term resistance area above is 2737-2740 and 2746-2751.
✅When the price of gold runs above $2750, it is necessary to be alert to the emergence of a retracement or a U-turn. At this time, long orders need to strictly set stop losses and pay attention to risk management. At the same time, holders of high-level locked-in orders and medium- and long-term long orders in the previous period may consider gradually reducing their positions or taking profits in this area, and wait for subsequent corrections before re-entering.
✅Intraday trading strategy
🔰Long: Arrange long orders on dips in the 2713-2715 range, with a target of 2730, and 2740 after a breakthrough, and adjust positions according to actual conditions.
🔰Short: When the gold price approaches the 2737-2740 area, arrange short-term short orders based on market momentum, with a target of 2720, and pay attention to stop loss control.
✅It should be noted that after the long breakout, market sentiment tends to be low-long strategy, and it is not appropriate to be overly obsessed with short layout at this time. At the same time, risk control should be done for long orders, and beware of the risk of a rapid decline in gold prices above $2,750. In trading, it is necessary to flexibly respond to market fluctuations and adjust strategies in a timely manner.
✅The overall trend is still dominated by bulls. It is recommended to follow the trend and give priority to long positions after the correction. If the price of gold wants to successfully stabilize at $2730, the retracement is not expected to be too large. Therefore, the focus below should be on the important defensive support area of 2718-2713. If the price of gold stabilizes in this support area, it can continue to look to higher targets. The short-term resistance area above is 2737-2740 and 2746-2751.
✅When the price of gold runs above $2750, it is necessary to be alert to the emergence of a retracement or a U-turn. At this time, long orders need to strictly set stop losses and pay attention to risk management. At the same time, holders of high-level locked-in orders and medium- and long-term long orders in the previous period may consider gradually reducing their positions or taking profits in this area, and wait for subsequent corrections before re-entering.
✅Intraday trading strategy
🔰Long: Arrange long orders on dips in the 2713-2715 range, with a target of 2730, and 2740 after a breakthrough, and adjust positions according to actual conditions.
🔰Short: When the gold price approaches the 2737-2740 area, arrange short-term short orders based on market momentum, with a target of 2720, and pay attention to stop loss control.
✅It should be noted that after the long breakout, market sentiment tends to be low-long strategy, and it is not appropriate to be overly obsessed with short layout at this time. At the same time, risk control should be done for long orders, and beware of the risk of a rapid decline in gold prices above $2,750. In trading, it is necessary to flexibly respond to market fluctuations and adjust strategies in a timely manner.
Trade active
✅Intraday Trading strategy:
🔶GOLD SELL: 2737-2740
🔰TP1: 2725
🔰TP2: 2720
🔰TP3: 2715 OPEN~
🔶GOLD BUY: 2715-2718
🔰TP1: 2725
🔰TP2: 2735
🔰TP3: 2740 OPEN~
Trade closed: target reached
🔥PERFECT!!! GOLD BUY @ 2715-2718💯 DONE HIT TP3: 2740 👏👏👏
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.