🔥GOLD TRADING STRATEGIES💲

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Gold has been going back and forth recently, with short-term gains reaching a high of 2321 and then falling rapidly. Its trend is still unable to escape the shock pattern, and it is expected to continue to maintain this trend pattern today!.

On the daily chart, gold prices continue to fluctuate, with the current price range roughly fluctuating between 2280 and 2330. In the 4-hour trend, the short-term moving average remains basically stable, indicating that the short-term trend may continue to remain volatile. Currently, the short-term price range is constrained by a narrow range from 2306 to 2320.

The 30-minute moving average shows that the short trend continues, indicating that downward pressure is still there. The price of gold is restricted by the downward trend line, and the rise is blocked, or even falls directly. The current trend line resistance is near 2318, so during the European trading period, the rebound may be limited by the trend line, and it is recommended to continue to be bearish.

On the whole, today's short-term operation of gold recommends mainly shorting on rebounds, supplemented by longs on callbacks. The top short-term focus is on the 2318-2320 resistance range, and the bottom short-term focus is on the 2300-2290 support range.

Gold Trading Strategies Reference
🎯Strategy 1: Go short when gold rebounds to around 2318-2320, stop loss 6 points, target around 2310-2300, break the position and look at the 2290 line✅

🎯Strategy 2: Go long when gold pulls back to around 2290-2293, stop loss by 6 points, target around 2300-2310, and look at the 2320 line if the position is broken✅
Ghi chú
ảnh chụp nhanh
At present, the price of gold has reached the resistance level of 2320 above as we expected. Important data will be released later, which may cause large fluctuations in the price of gold. Investors, please manage your funds and positions, and do not engage in high-risk transactions.
Ghi chú
ảnh chụp nhanh
Today's initial jobless claims data is bullish for gold. The price of gold has broken through the resistance level of 2332 with the help of data rebound. The probability of continuing to break through increases, and the probability of hitting the next resistance level of 2352 is higher. In the long run, after gold falls, it will rise further. This is only a matter of time.

Judging from the short-term market situation, the market fluctuations caused by the data are very large, and the short-term rise is followed by a rapid decline. In the first wave of rise, which was around 2328, we successfully seized a short order opportunity and successfully harvested nearly 14 US dollars.

Although the current trend of gold slightly exceeds expectations and appears to be in the breaking range, there is no obvious pressure above except the falling high near 2352. However, it does not affect our layout, just follow the trend.At present, above the price of gold, we can pay attention to the competition near 2340, which is the mid-track position of the daily line. If the price of gold stands firm at this position, it will be conducive to the bullish confidence in the market outlook.

Below we focus on the intersection position of the 4-hour moving average near 2318-20. The short-term bias is bullish when the position is broken, which can be used as a reference for short-term long-short watershed operations.
Ghi chú
ảnh chụp nhanh
Judging from the structure of the market, the first two waves of yesterday's rise were turbulent, and then a structural upward trend was formed. This also shows that the short-term shock is over. In the future, we will further look at the lateral pressure on the 2370 line since the fall of 2430.
Continuing to break through is the upper limit of the daily chart, so the extent of today's decline is limited. If it falls back to the 2332 line as normal, and the bottom line of 2312 moves upward to the 2326 line, and yesterday's breakthrough box platform was at 2328, so it is bullish to maintain above 2328 today. ,
However, if the pullback is too deep, the entire upward trend will basically be broken. Judging from the golden 1-hour chart, it is difficult to correct the strong market, and I am afraid it will not even go down to 2343.
Of course, if it falls below 2343, the support below will focus on around 2337. The upper pressure level focuses on 2372 suppression. This is the 61.8% golden section of 2431-2277, and it is also the lower breakthrough position on April 22!
Taken together, today's short-term gold operation advice is to focus on callback long orders, supplemented by rebound short orders. The top short-term focus is on the 2370-2372 resistance range, and the bottom short-term focus is on the 2332-2337 support range.
Chart PatternsTechnical IndicatorsTrend Analysis

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