XAUUSD(Gold)- Short Below 2500$

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Last week, gold closed with a cross star, and the daily line showed a trend of high exploration and decline, indicating that it was under pressure at the upper track of the range. In the short term, the price of gold is still fluctuating in a wide range of 2530-2470, and the non-agricultural data last Friday did not break this range. The current market shows that the upper resistance of 2530 has not been broken, and the downward trend line of the four-hour chart has not been broken, indicating that the market has entered a volatile mode again. Whether the 2530-2470 range can be effectively broken will depend on the CPI data to be released on Wednesday this week.

The high and fall last Friday further confirmed the strong signal of the bears. Although the price of gold is still running above the short-term moving average, and the short-term support is formed around 2485, the upward momentum has obviously weakened. From the weekly line, the bears dominate in the short term, and the probability of continuing the downward trend is high. The support level near 2470 may be tested again this week.

On the four-hour chart, gold has formed a multiple top structure, and the moving average is about to cross. Once a cross is formed, gold may open up a larger space for decline. At present, the gold price is under pressure below 2500, with the primary resistance near 2500 and further resistance at 2512. Unless the cyclical indicators improve significantly, the idea of looking at a correction will continue. If the European session rebounds to 2496-2500, a light position can be entered into a short order, with the target at 2485. If it falls below this level, it will further look at the 2470-2468 area.

In summary, today's short-term gold operation strategy recommends rebound shorting as the main strategy and callback long as the auxiliary strategy. The upper side needs to focus on the 2500-2505 resistance range, and the lower side needs to focus on the 2473-2470 support range.

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Gold Trading Strategies Reference

🎯Strategy 1: Go Sell when gold rebounds to around 2500-2504, stop loss 6-10 points, target around2485-2475, break the position and look at the 2470 line✅

🎯Strategy 2: Go Buy when gold pulls back to around 2470-2473 , stop loss 6-10 points, target around2485-2490, and look at the 2500 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.