🔥GOLD INTRADAY TRADING STRATEGY

Judging from the daily chart of gold, the price of gold hit a record high last Friday, but then there was a correction, falling by about US$87 from the high to around US$2,344. This is because investors are taking profits and exiting the market when they see that the price rally may have been excessive. However, gold rebounded quickly on Monday after falling to around $2,324 and stood above $2,380, indicating that the correction may be over and the upward trend may continue. On the four-hour chart, gold rebounded quickly after falling to the $2,324 line during yesterday's U.S. trading session. The third Bollinger Bands track opened upward, the gold price ran between the middle and upper tracks, and KDJ diverged upward after the golden cross.The MACD green energy column begins to shrink, and the short-term trend becomes stronger.

In terms of the performance of a single trading day, the rebound is much faster than the decline, and there are signs of breaking through to new highs. The hourly line closed with five consecutive positive lines. In contrast, the performance of the negative line is tortuous and has poor continuity, so the current market rhythm is not weak. The decline is only temporary and corrective in nature. In the last trading session, a test of the support below $2333 showed strong support and especially a quick rebound, which confirmed our judgment that even if the price failed to form a bottom at $2333, It only tested the $2,320 level once. Therefore, a corrective low has emerged and the hour line real body closed near the $2,346 support. Therefore, for the next market trend, if the price falls below $2,346 again, you can consider intervening in long orders.

After last Friday's sharp decline, it is still difficult to return directly to strength. We define this week as a correction week and expect the market to remain volatile. There is a pressure range between $2380 and $2400, so we have reason to participate in short selling.

On the whole, today's short-term operation idea for gold is to mainly go short on rebounds, supplemented by longs on callbacks. The key resistance range above is $2380-2390, and the key support range below is $2346-2365.

Comment:

On Tuesday (April 16), spot gold fluctuated within a narrow range not far below the 2,400 mark, and is currently trading around $2,370 per ounce. Gold prices climbed 1.64% on Monday to close at $2,382.95 an ounce, as tensions in the Middle East boosted safe-haven demand and as the dollar and U.S. Treasury yields rose after stronger-than-expected U.S. retail sales data for March，The price of gold fluctuated significantly during the session.

​ U.S. retail sales increased by 0.7% month-on-month in March, exceeding expectations of 0.4% and hitting a new high since September last year. The previous value was significantly revised up from 0.6% to 0.9%. Market expectations for a rate cut by the Federal Reserve have been further delayed, with traders no longer fully expecting a rate cut before November. Gold has now largely escaped the influence of the U.S. dollar as rising tensions in the Middle East prompted investors to seek refuge in safe-haven assets. Investors are paying close attention to new developments from the Federal Reserve, with expectations that its next moves will be affected by ongoing inflation challenges. According to CME's "Fed Watch": the probability of the Fed keeping interest rates unchanged in May is 94.1%, the probability of cutting interest rates by 25 basis points is 0%, and the probability of raising interest rates by 25 basis points is 5.9%. The probability that the Fed will keep interest rates unchanged until June is 63.5%, the probability of a cumulative 25 basis point interest rate cut is 32.6%, and the probability of a cumulative 25 basis point interest rate hike is 3.9%. Overall, the trend of the gold market will continue to be affected by a variety of factors, including geopolitical tensions, global economic policy adjustments and inflationary pressures. Gold demand has been quite strong in recent weeks, which may attract some new buying into the market, and given that the geopolitical situation remains uncertain, we will still need to pay close attention to further market movements.

Comment:

Comment:

Today, the gold daily line has collected a medium positive line with a long lower shadow line, and the market is still taking advantage of risk aversion sentiment to wash the market back and forth. Currently, it is temporarily maintaining a high level and a narrow range on the daily and hourly levels.

From the 4-hour level, gold formed a cross K line around the middle track during the white session. It bottomed out and rebounded during the US session. The price rebounded after hitting the lower track near 2324, which was also near the early platform support level. The K-line Dayang has risen and returned to above the middle track, forming a cross star to cooperate with the Dayang line. Today, relying on the support near the middle track 2363, we will continue to be bullish. The upper track will focus on around 2398-2400.