Gold fell after touching above 2,000 again intraday on Friday. As of the close, it was reported at 1978. During the transaction, I had already reminded my friend TP in the group. There are some small supports near 1977, but this support is not very strong. As long as the bearish power is strong enough, breaking this support is a high probability.
I used the 30m chart, and there are two areas circled in the chart. For the market on Monday, first look at the 1975-1983 range shock. If the bears are strong, 1975 will definitely fall below. The following is the strong support near 1969. If there is no news stimulus, we can go long when it falls to the 1969-1963 range. It should not be a big problem to catch a small rebound. I will give a specific strategy at that time.
The current situation is:
1988-1983 resistance level
1975-1971 weak support
1969-1963 Strong support
Shorting in batches without breaking through the resistance level, breaking through 1990 stop loss, taking profits in the weak support-strong support range
Go long without breaking the strong support, stop loss if it falls below 1960, take profit in the weak support-strong support range
The market will change at any time, and it is impossible to operate completely according to one's expectations. (If only it worked out as expected!) I also update the strategy in real time as the market changes. Welcome everyone to pay attention.
XAUUSD
Comment:
It rebounded after falling to 1969, the trading strategy I shared with you yesterday is in line with today's market
