XAUUSD:3/10 Today’s Trading Strategy

Gold prices fell to their lowest settlement price since March on Monday and are heading toward a so-called "death cross," which could lead to further falls.

In early Asian trading on Tuesday, spot gold continued its decline, with the price once hitting a nearly seven-month low of $1,815. However, fundamentally, “interest rates and the Fed’s hawkish stance are still the theme of this game and the market’s focus in the coming weeks. The main driving force”. The last time gold prices fell this low was more than six months ago, when a regional U.S. banking crisis triggered an influx of buyers. “Then, as now, pressure on gold prices came from rising U.S. government bond yields and an assessment of expectations for higher long-term interest rates.

Judging from the current daily structure, all important positions that could provide technical support in the past have been broken. It seems that the decline has lost its support basis. Gold bulls have been completely passive. Even if the US dollar index appears to be under pressure, it will not be helpful to gold bulls. Therefore, when gold can stop falling and rebound in the future, and when bulls can exert force, it may require the influence of fundamentals. Without the support of positive fundamental factors, even if gold stops falling and rebounds, its strength and space may not be able to eliminate the extreme emotional pressure of short sellers. Therefore, for the future trend of gold, we need to pay close attention to changes in fundamental factors and market sentiment.

Judging from the daily analysis, the gold moving average continues to cross downwards, and the short trend is still obvious. Gold has been falling all day without any rebound. It is difficult to say when this trend will bottom out. It can only be said that it continues to be short with the trend. Gold rebounded slightly to 1840 and then fell back. This shows that gold 1840 still has great resistance. Overall The technical pattern is very clear for short positions. Any rebound is a short-selling opportunity. Keep trading with the trend.

Taken together, today's gold operation idea is to focus on short selling on rebounds. If you go long on callbacks, you can only make about 5 US dollars before leaving the market.

SELL:1828~1830
SL:1835
TP1:1821
TP2:1816
TP3:1805

BUY:1805~1808
SL:1800
TP:1815

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Trading = 10% choice + 90% waiting

I hope we can make a profit

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Falling

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Gold fell to around 1821, perfect profit today

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Gold’s 4H/1H resistances are at 1833 and 1816. So before tomorrow’s non-farm payrolls data, gold will still fluctuate in a fixed range.

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