Gold Trading Strategy For Monday

Oct 13, 2024

Gold Trading Strategy For Monday!!!
At the weekly level, gold continues to fluctuate at high levels and within a narrow range along the short-term moving average. Although the weekly correction is not strong, we need to be wary of the possible continuation of the upward trend after a slight break in the weekly line. The current trend shows that the overall trend of gold remains strong and no obvious signs of weakening have been shown.

At the daily level, gold remains in the oscillation range of 2600-2700. Gold prices rose again on Friday, indicating that the bulls are still strong. The operation ideas need to be adjusted next week: if the gold price first falls back, it will be an opportunity to enter the market for long orders; if it goes up directly, it is not recommended to chase long easily to prevent the risk of a decline caused by the double top pattern.

The 4-hour chart shows that the K line fluctuates steadily upward along the short-term moving average. In the short term, attention should be paid to the support around 2640-2645. If this support level is effectively held, the short-term trend may continue to rise, which can be regarded as an opportunity to intervene in long orders.

On the 1-hour chart, the short-term moving average begins to gradually diverge downward, indicating that there may be a need for adjustment in the short term. Although the K-line has broken the short-term moving average, the extent of the correction is not yet clear. The current 1-hour moving average has just formed a golden cross. If there is no major correction next week, gold still has the potential to rise further. It is expected that when gold falls back above 2645 next week, it can be considered to go long. The upper 2670 line is the key resistance level. If it cannot be effectively broken through, it is necessary to be vigilant about the risk of falling under pressure.

Overall, the short-term operation next week will be mainly long on the correction, supplemented by short on the rebound.
The upper short-term focus is on the 2670-2673 resistance range
The lower short-term focus is on the 2632-2647 support range

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⚠️The trend of the gold market may change rapidly, and the trading strategy may be adjusted in real time. Investors are advised to place orders carefully and manage account funds and position reasonably. If you have no sufficient confidence in the transaction, you can contact me at any time, and I will be patient with a professional perspective to provide you with guidance, and strive to help you achieve long -term and stable benefits.

Oct 13, 2024

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The trend of the gold market next week will be mainly affected by US economic data, geopolitical tensions and market expectations of the Fed's interest rate cut. Against the backdrop of a complex and changing global macroeconomic environment, gold's safe-haven properties have once again emerged. In the future, as the situation in the Middle East develops and the Federal Reserve's policy is further clarified, the volatility of gold prices may intensify.

Oct 13, 2024

Trade active

Gold Trading Strategies

🎯Strategy 1: Gold Sell 2670-2672, stop loss 6-10 points, TP 2660-2650, break the position and look at the 2545 line✅

🎯Strategy 2: Gold Buy 2645-2647 , stop loss 6-10 points, TP2655-2665, and look at the 2670 line if the position is broken✅

🔥The trading strategy may be adjusted in real time according to market trends. If you need more accurate trading signals, please contact me in time.

Oct 14, 2024

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On the 4-hour chart, the price of gold fell to the support level of the upward trend line in the morning, and the energy indicator showed signs of weakening. At the same time, there was a gap down on the 1-hour chart, and the current pressure level is just at the gap, which happens to be the suppression area of ​​the upward trend line. The key support level is concentrated near the 10-day moving average. From the perspective of the pattern, if the next K-line of the four-hour chart falls below 2642 and closes below 2640, it will indicate that the risk of a weaker trend has increased, which will make it more difficult to further break through Friday's high. From the overall structure, there is a possibility that the price of gold will return to the downward trend line. Therefore, today’s operation strategy is recommended to focus on shorting on rallies, and pay close attention to the support and rebound strength below 2640.