https://www.tradingview.com/x/W4YXuMYf/
Yesterday, gold prices initially declined before rising, continuing the previous day’s deep V-shaped rebound pattern. Prices came under pressure at 3378 in the Asian and European sessions, weakening and fluctuating downward. The European session continued its downward trend, breaking through 3360 to reach around 3358 before stabilizing and recovering. In the US session, bullish momentum continued to rebound, breaking through 3380 before falling back under pressure and weakening. The price finally closed around 3367, closing in a mid-yin-yang pattern of volatile adjustment. Overall, gold prices retreated again to test support near 3360, effectively establishing a wide range of bullish and bearish fluctuations in the short term. Further gains are expected today, challenging above 3390. However, given the recent volatile pattern of gold prices, it’s not advisable to chase gains or sell losses in the short term. If your current trading is not ideal, I hope Yulia can help you avoid investment pitfalls. We welcome your communication.
According to the 4-hour chart, support is currently focused around 3365-60, while resistance is expected around 3395-3400. We should maintain a high-short-low-buy cycle within this range. In the intermediate range, we should be cautious in following orders and patiently wait for key entry points. I will provide detailed trading strategies during the trading session, so please stay tuned.
Gold Trading Strategy:
Go long on gold if it retraces to the 3360-65 level, with a stop loss at 3353 and a target of 3390-3395. Continue holding if it breaks below this level.
