XAUUSD(GOLD) - Trading Strategy for Monday

5 oct.

XAUUSD
After the release of non-agricultural data on Friday night, the data performance was significantly negative, and the price of gold fell rapidly and sharply. The price of gold has fallen back under pressure many times, showing that the upside space for bulls has been very limited. The price of gold rebounded in the short term after retracing to around 2631, showing a bottom-out trend. However, the price was blocked at the 2667 line, so the overall trend is still biased toward the short side. We should formulate trading strategies based on the bearish pattern of shocks.

Judging from the 4-hour chart, gold has formed an obvious multiple top structure at high levels, and the price continues to fluctuate at high levels, but the bullish momentum is gradually weakening. It is difficult for gold prices to directly break through new highs in the short term, and the moving average system has also shown signs of turning, indicating that bears are gradually taking over. The high point of the rebound gradually decreased. Friday's rebound only stopped around 2670 and failed to break through the previous high of 2673, indicating that the strength of the rebound was limited. It is expected that the strategy of shorting on rallies will continue below 2670 next week, and short positions can be entered when the price rebounds to around 2665.

Taken together, the price of gold is still in a bearish trend in the short term. The operation strategy is recommended to be mainly short on rebounds and supplemented by long on callbacks. For specific and detailed trading strategies, you can consult me ​​in time.

The upper short-term focus is on the 2665-2667 resistance range
The lower short-term focus is on the 2622-2625 support range

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6 oct.

Transaction en cours

Gold fundamentals analysis
Market focus will shift to the release of the US Consumer Price Index (CPI) and the minutes of the Federal Reserve's monetary policy meeting next week. Investors will pay close attention to inflation data to determine the direction of the Federal Reserve's monetary policy. The continued development of the geopolitical situation in the Middle East will also affect market sentiment. The demand for gold as a safe-haven asset may continue to rise, although volatility remains high in the short term. This week, the gold market was affected by strong US employment data, and market expectations for a sharp interest rate cut by the Federal Reserve weakened, putting gold prices under pressure. However, global geopolitical tensions provided support for gold. Next week, if the geopolitical risks in the Middle East further intensify, gold prices are expected to challenge historical highs again, and even hit the key mark of $2,700. Therefore, investors need to pay close attention to US economic data and the Fed's policy dynamics, as well as the potential impact of geopolitical developments on gold prices.
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6 oct.

Transaction en cours

Gold Trading Strategies

🎯Strategy 1: Gold Sell 2665-2670, stop loss 6-10 points, TP 2645-2640, break the position and look at the 2630 line✅

🎯Strategy 2: Gold Buy 2622-2625 , stop loss 6-10 points, TP2635-2645, and look at the 2650 line if the position is broken✅