XAUUSD:26/10 Today’s Trading Strategy

Gold prices rose rapidly in the short term on Thursday. Although the U.S. 10-year Treasury bond yield climbed 13 basis points to 4.95% on Wednesday and the U.S. dollar index rose 0.24% to 106.79, the gold price seemed unaffected by the recent strength of the U.S. dollar. Hitting a one-week high above 1985. According to the description of gold's K-line chart yesterday, it can be seen that the price of gold closed with a long lower shadow line and was close to a cross star pattern, which indicates that gold has certain support at the low of 1953. Generally speaking, after this pattern appears, the shadow line will often be covered the next day and the bullish move will continue. The gold market showed a volatile long and short trend in yesterday's trading. When the price hit 1962, gold bulls rose rapidly. After the highest point hit 1987, it came under pressure and finally closed at 1979.

At the daily level, a physical small positive line was included, further responding to the previous long lower shadow line rising pattern. The price of gold has broken through the previous high at a high price, which is undoubtedly a manifestation of a bullish pattern. On the 4-hour chart yesterday, the price of gold fluctuated back and forth between the upper and lower Bollinger Bands. It consolidated and transitioned during the Asian and European trading sessions, and showed a trend of rising first and then falling during the US trading session. Despite the tug-of-war between the upper and lower Bollinger Bands, the price still recovered to a higher position at the end of the session. The current opening price is at the upper track of Bollinger Band, and the lows are constantly rising. The 4-hour chart shows that bulls are trading sideways, waiting for further gains. We need to pay attention to the resistance of 1997-2000 at the top; we focus on 1977-1970 at the bottom.


SELL:1995-1997
SL:2002
TP1:1900
TP2:1885

BUY:1977-1979
SL:1972
TP1:1986
TP2:1992

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Fall as expected

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The decline accelerated after the data was released. Unfortunately, this wave of market conditions came too late.

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I said that risk aversion is not enough to support the rise of gold. Any rebound today is an opportunity to short.

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This week's harvest is very rich, continue next week

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New week. hope everything goes well

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Every downward correction today is an opportunity to go long. It’s not that the market is not suitable or that the market is not strong. It’s that you are in the wrong position and are going in the wrong direction. If you follow the right person, you may find that there are opportunities to make money everywhere.

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Judging from the current trend, bulls are strong. It is recommended to go long at low prices today. I will share today’s strategy later.

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There is a lot of data today. Friends who trade, please remember to control your risks. If you have anything you don’t understand, you can contact me immediately.