Gold continues to hit new highs

Oct 23, 2024

🔥The current daily trend of gold is stable, and it continues to fluctuate upward along the short-term moving average, and there is no sign of peaking yet. The 4-hour chart shows that the short-term moving average diverges upward, and the opening price slightly retreats but does not change the strong pattern. In the short term, attention should be paid to the support level near 2735.

🔥In the 1-hour chart, the short-term moving average begins to turn downward, and the K-line is under pressure. There may be adjustments in the short term, but the strength is limited. The overall trend is still long, with the 5-10 day moving average moving upward steadily, and falling prices are a trap for short sellers.

🚀Today's operation advice is to focus on longs on callbacks, supplemented by shorts on rebounds.

🔴The upper short-term focus is on the 2770-2780 resistance range
🔴The lower short-term focus is on the 2730-2735 support range

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Oct 23, 2024

Trade active

Gold Trading Strategies, October 23

🎯Strategy 1: Gold Sell 2775-2780, stop loss 6-10 points, TP 2755-2740✅

🎯Strategy 2: Gold Buy 2733-2735 , stop loss 6-10 points, TP 2750-2770✅