Gold Friday's thinking: 2675-2705 range oscillation
Updated
Gold Friday's thinking: 2675-2705 range oscillation
Gold peaked at 2726 and quickly fell back, with effective pressure at 2720.
Now it has completely returned to the range oscillation: 2675-2700
As shown in the figure:
Today's trend is mainly profit-taking, and the market outlook is still bullish at 2725-2750
We have analyzed yesterday: the main force of the Asian session started buying from around 2610 and ended around 2710, so the conclusion is: (2610+2710)/2=2660
Around 2660 is the main average price of this wave of upward trend. Then the trend will be reversed only if it falls below 2660.
Today's decline is just for better accumulation of funds in the Asian market.
So we still set the final stop loss of this wave of gains as: 2655-2660 range.
This will be a very good time to buy.
The corresponding long strategy is obvious: (Continuing yesterday's thinking, we have a complete opportunity to go long)
Buy: 2675-2785
-------------------
SL: 2650
TP1: 2750
TP2: 2780
Reasonably control your position, and we will finally welcome the final victory on Friday.
Gold peaked at 2726 and quickly fell back, with effective pressure at 2720.
Now it has completely returned to the range oscillation: 2675-2700
As shown in the figure:
Today's trend is mainly profit-taking, and the market outlook is still bullish at 2725-2750
We have analyzed yesterday: the main force of the Asian session started buying from around 2610 and ended around 2710, so the conclusion is: (2610+2710)/2=2660
Around 2660 is the main average price of this wave of upward trend. Then the trend will be reversed only if it falls below 2660.
Today's decline is just for better accumulation of funds in the Asian market.
So we still set the final stop loss of this wave of gains as: 2655-2660 range.
This will be a very good time to buy.
The corresponding long strategy is obvious: (Continuing yesterday's thinking, we have a complete opportunity to go long)
Buy: 2675-2785
-------------------
SL: 2650
TP1: 2750
TP2: 2780
Reasonably control your position, and we will finally welcome the final victory on Friday.
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