Gold patiently waits for more adjustments! pour FXOPEN:XAUUSD par Leo-trading-star

Gold opened lower early and then rebounded, but we need to further pay attention to the support of safe-haven gold. If we are long on gold, we will first put it at the next support level, because after all the recent negative adjustments, whether gold will continue to rise to new highs or continue to fall back to lows, the main trend is long.

If gold waits for a rebound, first focus on the moving average support and the support level of 2280, which will be tested after Friday's non-farm payrolls. Those who are stable can wait until it falls back to around 2300 before continuing to go long. If the market stabilizes in early trading, it can go to the moving average support near 2300.

Transaction en cours:

Following the trend, the low and long positions are bullish. There is no suitable entry position in the Asian market, and the focus is on the European market. Below, focus on the morning low of 2302-2306 range, and other positions will be arranged accordingly.

Transaction en cours

Transaction en cours:

Today it has fallen back more than 20 points from 2353, but in the current trend, do not arbitrarily believe that there is a top. In trading, it is better to focus on lows and longs. Rely on the first wave high point of 2353 to participate in defense. It is not that you cannot go short in the recent market. Short selling can only rely on the previous high as a defense. Once the high is broken, just give up all short orders. Do not forcefully add short positions!

Transaction en cours