MRKKYI

Gold, 6.16latest trading strategies

MRKKYI Updated   
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
International gold Thursday after Wednesday probe low 1940 a line, Thursday Asian plate appeared to be a continuation of the slow decline in the probe low, maintain the previous low support near 1930 concentration of chips. The U.S. market to obtain 1925 support, more hair to force a counterattack, has recovered 1940 and 1950 position, maintain 1960 suppression horizontal closing.

From the current rhythm of the market, after the time node conversion, the rhythm of the market has basically also realized the rhythm of rotation, the white plate more counter-attack correction did not appear, but to the continuation of the bottom touching, the evening more recovery instead of the previous high fall of the short performance. So for intraday trading you need to pay attention to the rhythm of the transition, focus on the continuation of this round of bottoming out after the long situation is dominant.

Technically speaking: the daily side is still cashing in on the support near the key position 1930, although there is a puncture, mainly due to data washout, more to the entity 1930 support performance is effective, from the sun counterattack, there is a more powerful bottom sun, with the previous bottom support, is expected to achieve more counterattack in this round, but still the previously mentioned point, still need to verify the continuity of the market, the intra-day trend is very The key, whether it can be extended from the sun, which is the key to determine the trend. In terms of the daily trend can be biased more ideas to treat, wait for the day or after the market continuation of the sun with the confirmation to do more upper space to follow!

Short-term trading, yesterday's counter-attack recovery position just reached the previous day's starting level near 1960, there is a certain resistance performance, horizontal closing, so the day's white adjustment market can be concerned about the resistance performance near 1960, the lower concern yesterday's continuation of the starting level 1940-45 change hands. The key trading idea is whether the adjustment can be achieved after the long continuation, stabilization above 1960, and even achieve a complete breakthrough of the 1970 resistance, which is the focus of intraday trading.

Specifically, the intra-day European plate can refer to 1963-66 above sell, sl1971, tp follow up 1645-50. give to the position below near 1945-50 can consider changing hands BUY.

More suggestions 1940-45 near the intervention, 1940 below the fill BUY orders, defensive limit but 1930 key position, the upper continue to pay attention to the recovery of more, gradient tp1960-65-70, break the level to reduce hold!
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Daily gold prices showed a single bullish candlestick, with hourly prices also displaying consecutive bullish candles. The market broke through the previous resistance level at 1966 in a slow upward movement. If this trend continues today, caution is advised. In the event of a decline in gold prices in the US market, it would be advisable to consider a buy position if the support level at 1958 remains unbroken. For short-term trading, a rebound can be anticipated between the range of 1958-1954, with a preference for entering at lower price levels. Resistance levels to monitor on the upside are at 1974-1980. However, if gold prices in the US market break below the support level at 1954, further downside movement should be expected, with focus shifting to the next support level at 1945.
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