XAUUSD(GOLD)-Buy around 2480-2485

Aug 19

At the weekly level, gold has once again set a new record high, reaching 2509.60. When the market is strong, there should be no "fear of heights" mentality, because there is no highest, only higher. Last Friday, the price of gold broke through the upward trend with a very strong trend. Although there was a single negative retracement in the evening, it finally closed at around 2507.70, showing obvious signs of strength. Today is Monday. After the opening, gold turned negative and retraced. The current main strategy is to do more at low levels.

From the daily chart, the stochastic indicator in the K line continues to cross, showing a bullish upward signal; the MACD indicator double-line adhesion upward, also conveying a bullish signal. Therefore, the daily operation can be based on the trend of thinking.

In the 4-hour chart, the short-term risk aversion sentiment did not continue strongly after gold hit a new high, so there may be a trend of adjustment and decline in the short term. At present, the support position is roughly around 2480, which is a support position for top and bottom conversion; the second is the middle axis support near 2470, and the lower rail support is between 2440-2433. Therefore, in the 4-hour chart, you can choose to go long on the pullback and follow the trend.

From today's overall trend, it is unlikely to continue the extremely strong momentum of last Friday, especially when the news and data are relatively light, so there is a possibility of correction. Since it rose to 2509 last Friday, and the high point that encountered resistance many times in the previous period was near 2480, if it retreats to this position, the momentum of the subsequent rise and breakthrough of the high point may be limited, and it is more likely to enter a range of fluctuations. Therefore, in the retracement after the strong rise, it can be regarded as an energy accumulation correction. The support range near 2485-2480 should be paid attention to during the day to see the possibility of bottoming out and rebounding, and the upper resistance level should focus on the 2510-2515 range.

Aug 19

Trade active

Gold Trading Strategies Reference

🎯Strategy 1: Go Sell when gold rebounds to around 2509-2512, stop loss 6 points, target around 2500-2490, break the position and look at the 2480 line✅

🎯Strategy 2: Go Buy when gold pulls back to around 2483-2485 , stop loss 6 points, target around 2495-2505, and look at the 2510 line if the position is broken✅

✴️Strategy orders are divided into two positions at 1:2 or 1:3. The two positions shall not exceed 15% of the total position. A spare position shall be reserved. All positions shall not exceed 20% of the total position;

✴️Strategy orders change SL to the entry price when the profit is more than 3 US dollars. Unless otherwise notified, the original price shall not be re-entered;

✴️Strategy orders implement current price closing, unless there is a clear statement of pending orders or positions, the strategy is only valid for the day; overnight orders are prohibited;

⚠️The trend of the gold market is changing rapidly, and trading strategies may also be adjusted in real time. Investors are advised to place orders cautiously and manage account funds and positions reasonably.

Aug 20

Trade active

From the analysis of gold technology at the multi-cycle level, the gold price may be under double top pressure, so the operation strategy in the Asian session is to short first, pay attention to the double top resistance signal of 2508-2509 resistance point and then short layout, as for long orders, wait for 60 and 30 minutes to resonate before entering the market