https://www.tradingview.com/x/XfvxiTdE/
Yesterday, gold’s decline stalled at 3330, a key support level we’re watching. A break below this level would open up further downward pressure, with the target remaining at 3300. A negative daily close would further expand downward pressure. On the upside, we’re initially watching for short-term resistance around 3350-55. If the price rebounds above this level, you can simply short sell. If your current trading strategy isn’t working out well, I hope I can help you avoid investment pitfalls. Feel free to discuss your options!
From a 4-hour analysis, upward resistance is around 3350-53. Intraday pullbacks will continue to support this level, with a view to a potential decline. On the downside, watch for key support around 3330, and the short-term watershed between bullish and bearish strength at 3370-75. Any pullbacks until the daily chart breaks through and holds above this level are opportunities to short. Maintain your focus on trend-following trading. I’ll provide detailed trading strategies during the trading session, so stay tuned.
Gold Trading Strategy:
Short on a rebound to 3350-53, and cover on a rebound to 3370-75. Stop loss at 3384, target 3330-3335. Hold if it breaks through.
