XAUUSD: Thursday Gold Analysis

Gold market analysis: Gold 4-hour level: At this time, it is still under the 10-day moving average and has been falling slowly. However, there are temporary signs of consolidation in the small range at the bottom. There is also a golden cross under the MACD zero axis and a gradual increase in volume. We need to observe this kind of shock. Can it continue for two or three days? When the consolidation time is longer and the middle track is gradually pushed downward, once it stands on the middle track, it means that the prototype of the bottom stabilizing structure has appeared. At that time, there will be a wave of upward corrections. Currently, it still needs Continue to wait and see; the short-term mid-rail is mainly bearish on rallies below 1840. When the rebound touched the 1833 line, which was the previous starting point and fall position, because the rebound failed to break through this key pressure level, the downward pattern was not broken. This is one of the reasons why we have always insisted on shorting. In yesterday's U.S. market, around the 1829 line, we firmly maintained our short position and traded profitably. With the upward and downward trend after the rebound, the price returned to the 1820 line. The entire rebound process ended and the market returned to a short position. Therefore, continuing to go short has become an inevitable choice. However, judging from the 4H/1H candle chart, the resistance of 1815 is still effective. The big upward or downward direction still needs to wait for the release of tomorrow's non-farm employment data.
Taken together, today's gold short-term top focus is on the resistance of 1830-1833, and the bottom short-term focus is on the support of 1815-1804;

SELL:1828-1830
SL:1836
TP1:1820
TP2:1815
TP3:1810

Look at the support near 1815 and go long

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Today was another difficult day, but luckily it ended with a profit

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A perfect October, are you ready to start trading today?