When will gold break through the trend line?

已更新

📣📣Gold prices fell 0.44% on Monday, closing at 2638, ending a four-day rally. The dollar rebounded sharply as the French political crisis escalated. However, the situation in France also provided some safe-haven support for gold prices. In addition, many Fed officials believe that the Fed will further cut interest rates, and the market's expectations for a rate cut in December have increased, which still provides support for gold prices.🎈

🔔Monday's data once again showed the resilience of the US economy. US manufacturing activity improved in November, orders grew for the first time in eight months, and input prices faced by factories fell sharply.🎈

🔔This week's major US economic events include the release of job vacancy data, the ADP employment report and non-farm payrolls. Speeches by Fed officials, including Fed Chairman Powell, will also attract attention. Among them, job vacancy data will be released today, and this trading day will also usher in a speech by Fed Governor Kugler on the labor market and monetary policy. Investors need to pay close attention.🎈

🔔Gold market analysis:
From the current market, gold has been consolidating around 2630, resulting in the short-term resistance and support of each chart breaking back and forth. Therefore, it is recommended to pay attention to the 2615-2665 range during the day, and maintain a high-altitude and low-multiple strategy before breaking.🎈

🔔Wait for the non-agricultural data to fluctuate. Once either party breaks the position, it will surely trigger a wave of following. If it goes down, pay attention to the 2590-2580 area shown in the middle track of the weekly Bollinger Bands. Place long orders when it is close to or touches it. If it goes up, If the position is broken, first focus on the 2680 area, which is the current weekly 10 moving average, and then focus on the 2715-2720 area. As the current double top form, you can choose the opportunity to make a hollow layout below. Of course, even if it is running in a range, I personally prefer the extension after the support is broken, so the operation will be mainly short at highs.🎈

🔔Operation ideas:
For the upper resistance, pay attention to the 2653 area first. Below it, the bears can regain lost ground and continue to test 2620 or break and extend. If it is strongly broken by the bulls, it is expected to extend and pull up. At that time, focus on 2666-2670, especially the latter as the rebound high last week, which will become the strongest defense for the bears during the day, and you can continue to arrange short positions below it. For the support below, focus on the 2615-2620 area, and you can try to participate with multiple orders.🎈

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交易开始

Gold day trading strategy analysis: focus on the 2615-2665 range

Today's gold price mainly runs around the 2615-2665 range, showing an overall shock pattern. In the short term, the upper and lower boundaries of this range have formed significant support and pressure on price trends. Market sentiment remains cautious, and investors are mostly focused on the upcoming non-agricultural data. Non-agricultural data is an important indicator of the market. If the results deviate significantly from expectations, it may cause gold prices to break through the existing range and form a unilateral trend.

Operational Review and Strategy
At the beginning of today's Asian early trading, guided by the idea of high altitude and low long, we executed a total of 5 transactions and achieved good profits.
This achievement is mainly due to the following points:
1. Accurate range judgment: Based on technical analysis and market sentiment, the 2615 support and 2665 resistance levels were successfully identified, and the trading direction was clear.
2. Strict risk control settings: Reasonable stop-loss and stop-profit are set in each transaction to ensure that risks are controllable.
Follow the trend: Follow the market trend when operating at key points and avoid blindly operating against the trend.

Outlook
As the release of non-agricultural data approaches, market volatility may intensify. If the gold price breaks through the upper edge of the range 2665, it may trigger a further rise, with the short-term target looking at 2685 or even higher; conversely, if it falls below the 2615 support, the bottom may test the 2590 area. Currently, investors need to pay close attention to market news and reactions after data are released, and maintain flexible trading strategies.

suggestion
Operation within the range: Before the non-agricultural data is released, continue to pay attention to the 2615-2665 range, and maintain a high-altitude, low-long operation strategy within the range.
Breakthrough following strategy: If the data triggers a market breakout, you can follow the trend and pay attention to the confirmation of trading volume and momentum.
Strictly control risks: The market may fluctuate violently during the data release period. It is recommended to reduce positions or wait and see to avoid blindly chasing orders.
In summary, the core driver of the market is still the non-agricultural data. At this stage, it is mainly based on steady operations and patiently waiting for breakthrough signals.

交易结束：到达目标

Summary of intraday gold trading: layout around the 2640-2650 range

Today, the gold market trend is relatively volatile. We have arranged the strategy of long near 2640 and short near 2650, successfully grasped the fluctuation of gold price in this range, and finally completed 5 transactions, all of which were profitable.
The following is a detailed strategy analysis and trading review.
Trading strategy review
Today's gold price as a whole remains in the range of 2640-2650. Our operation strategy is based on the support and resistance positions in this range:

Long strategy: When the gold price falls back to around 2640, combined with technical indicators and support levels, it is believed that this price point has a strong support effect, so we choose to arrange long near this position.
Short strategy: When the gold price touches around 2650, according to the pressure and short-term resistance of this price, we choose to arrange short, and use the pressure of this point to reverse the market.
The key to the success of this strategy is to accurately grasp the market's volatility range, enter the market in time and trade at high and low points, avoiding unnecessary pressure on positions caused by market fluctuations.

Trading Results Analysis
In today's trading, we executed 5 orders, each of which was strictly operated according to the established strategy, and all of them were profitable in the end.

This achievement was mainly due to the following points:
Accurate range analysis: We determined the two key price points of 2640 and 2650 by monitoring market fluctuations, and made efficient layouts based on this analysis.
Follow the trend: Choose to go long when the price retreats to the support level, and choose to go short when it rebounds to the pressure level, effectively utilizing the short-term volatility of gold.
Strict risk control: Reasonable stop loss and take profit are set for each transaction, ensuring that risks can be effectively controlled and profits can be locked in in a volatile market environment.

Outlook and suggestions for the future market
At present, the gold price is still fluctuating in the range of 2640-2650, and the operation strategy can continue to be laid out around this range. However, it should be noted that market sentiment may be affected by the upcoming non-agricultural data, and volatility may increase. If the gold price breaks above 2665, a new upward trend may start. On the contrary, if it falls below the 2620 support, a further correction may occur.

Operational suggestions:
Be cautious and control risks: When the volatility is drastic, it is important to maintain reasonable control of positions to avoid excessive exposure to risks in a single transaction.
In summary, today's operation strategy is accurate and effective, and it has successfully achieved short-term volatility profits. In future transactions, continuing to maintain a sensitive judgment on the range and responding flexibly to market changes will help to make stable profits in an uncertain market environment.