XAUUSD: Pay attention to the second drop

19 Ara 2024

✅From the technical chart, gold is still below the main moving averages, and the short-term technical indicators are in the bearish area, indicating a clear downward trend. At present, the momentum of gold's rise is weak, and the risk of falling is relatively large. If the price of gold falls further, $2,580 is an important support level. Once it falls below this level, the price of gold may test the high of $2,530 on August 20.

✅Yesterday's decline in gold prices reflects the market's initial response to the Fed's policy, and the withdrawal of funds from the United States and Europe has further aggravated the selling pressure. From the daily chart, the price of gold has not yet formed an effective rebound, and the cyclical trend is still weak. However, the market is currently close to the previous low, and a rebound correction may occur in the short term.
Aggressive investors can try to participate in the rebound with a light position at a low level, but they need to focus on the breakthrough of the previous high of $2,622. Only by successfully standing firm in this position can the current downward trend be alleviated and momentum can be provided for the bulls.

✅Trading strategy:
🔰Short at high level: short position in 2618-2622 area, target 2590-2580, stop loss set above 2625.
🔰Long at low level: if the gold price falls back to around 2580 and stabilizes, you can try long position with a light position, target 2605-2610, stop loss set below 2575.

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19 Ara 2024

İşlem aktif

✅Trading strategy:
🎯Strategy 1: Gold Sell 2622-2625, SL6-8$, TP 2600-2590, Breaking position looks to 2580 line

🎯Strategy 2: Gold Buy 2580-2583 , SL6-8$, TP 2600-2605, Breaking position looks to 2615 line

19 Ara 2024

İşlem kapandı: hedefe ulaştı

🔥PERFECT!!! GOLD SELL DONE HIT TP2605💯