Hao Chengbin: How to customize evening strategies as gold starts to fluctuate upwards

    internationalgoldMarket analysis: Gold closed strong on Monday and continued to rise on Tuesday, but its trend continued to rise and fall, breaking through the bottom and continuing the recent wide range of volatility. Daily chart closing cross yinKThe line, accompanied by the fluctuation of the Yin Yang cycle, follows a one Yang one Yin oscillation pattern, with insufficient continuity in the long and short positions. Yesterday, the first increase followed by a decrease met expectations, and the Asian and European markets relied on it1955Quick high and piercing on the front line1972Regional pressure drops, and the secondary upward movement of bulls in the evening is hindered1970The pressure at the checkpoint has led to a rapid downward trend, ultimately leading to a large-scale breakdown of prices1950Pass and continue down to1948The first line stabilized and rebounded through fluctuations. The downward trend line has not broken through, and the end of the day was under pressure and closed at a low level, with a range of1972-1948Between, it basically conforms to the interval given yesterday.


    The current signal given is that the technical gold low point has risen and the high point has moved up and refreshed. Tuesday's late trading surge and fall are also holding onto the previous trading day's starting point mentioned in the white market. Due to the recent wide fluctuations in the pace of bullish and bearish movements, the continuity of bullish and bearish positions is not strong. Yesterday's rapid bottom breaking and decline in the US stock market was not a signal of bearish reversal,4Hour top to bottom conversion bit1940The checkpoint remains a strong support area for bulls in recent times, with support below1946-1948Area, step back and rely on this support to lower it a bit. Look at the target position above1958-1960On the front line, do not look too far away from the target in operation, as it is easy to fall into a situation of gains and losses. Cooked ducks are very easy to fly.


    Overall, in terms of short-term trading strategy for gold today, Cheng Bin's personal suggestion is to focus on a pullback and buy long, supplemented by a rebound at high altitudes, with a focus on short-term operations above1970-1975Frontline resistance, short-term focus below1950-1945Frontline support.


    The current main market is fluctuating upwards, and short positions should be cautious in participating, but it is necessary to grasp the stop loss risk. If you are unable to grasp the timing of entry or have friends who need to lock the warehouse and set orders, you can contact the author, Teacher Hao Chengbin. (Guide WeChat)hyds0002 Official account: Cheng Bin Lunjin)


    1The rebound above the gold does not break1968-1970Short on the front line, stop loss4US dollars, look at the target1960-1958frontline;
    2Under the gold, it cannot be broken by stepping back1950-1952Long on the front line, stop loss5US dollars, look at the target1962-1964frontline;


    The above article was written by Hao Chengbin. If reprinted, please indicate the source. The article has a lag, and due to the delayed nature of online publishing, the intraday market is volatile. Readers are advised for reference only.