Gold falls near 1950?
Updated
https://www.tradingview.com/x/Pu9JI2cC/
Judging from the 4-hour chart: Gold is currently at risk of a correction. The trend line of the 4-hour chart shows that gold is showing a downward correction trend.
Moreover, the current trend line of the 4-hour chart is currently falling step by step, which means that the high point of gold will only get lower and lower.
We use 123 to find 4 to judge. You can see that I also drew it in the picture.
If 1997 is regarded as point a, then today's low of 1965 is point b, then today's rebound high near 1982 is point c.
Then point d may appear near 1950.
So at present, I suggest that you should not chase gold. Instead, you should open a short gold position from 1978-82.
The lowest target below can be seen to be around 1950, and the stop loss does not need to be large, just above 1985.
Judging from the 4-hour chart: Gold is currently at risk of a correction. The trend line of the 4-hour chart shows that gold is showing a downward correction trend.
Moreover, the current trend line of the 4-hour chart is currently falling step by step, which means that the high point of gold will only get lower and lower.
We use 123 to find 4 to judge. You can see that I also drew it in the picture.
If 1997 is regarded as point a, then today's low of 1965 is point b, then today's rebound high near 1982 is point c.
Then point d may appear near 1950.
So at present, I suggest that you should not chase gold. Instead, you should open a short gold position from 1978-82.
The lowest target below can be seen to be around 1950, and the stop loss does not need to be large, just above 1985.
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Wait patientlyDisclaimer
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