Last week, the gold price fell from 4200 to 3960. On Friday, it dipped to 3980 without breaking the previous low, then rebounded and broke through the 4040–4050 resistance, reaching 4100.
Today’s key points: Minor support: 4040, 4020, 4000 In the European session, if it breaks above 4100 and then pulls back to enter, the target is 4140–4150
Resistance: 4150–4180
Critical support: 3980. If it breaks, this round of the rebound is considered over, and there will be plenty of downside room. This week’s focus is to guard against a pattern of “small rise then big drop” (small rise to around 4200, followed by a big drop to around 3600).
$XAU Brothers, good morning! A new week has opened.
Last week, the gold price fell from 4200 to 3960. On Friday, it dipped to 3980 without breaking the previous low, then rebounded and broke through the 4040–4050 resistance, reaching 4100.
Today’s key points: Minor support: 4040, 4020, 4000 In the European session, if it breaks above 4100 and then pulls back to enter, the target is 4140–4150
Resistance: 4150–4180
Critical support: 3980. If it breaks, this round of the rebound is considered over, and there will be plenty of downside room. This week’s focus is to guard against a pattern of “small rise then big drop” (small rise to around 4200, followed by a big drop to around 3600).
MagaBTC
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Bullish
$XAU Good morning, brothers. The overall strategy remains unchanged. Focus on: Pressure: 4050. If it breaks through, expect a short-term rebound toward 4080 and 4100.
Support: 3960. If it breaks below, look for 3920-3880.
Today is Friday, and tomorrow is the weekend with the market closed. Today, focus on 4050. If it’s not at the key level, don’t get involved. Save your ammunition, and only go heavy when the crucial bottom is reached. Until then, just play with light positions for short-term trades.
$XAU Good morning, brothers. The overall strategy remains unchanged. Focus on: Pressure: 4050. If it breaks through, expect a short-term rebound toward 4080 and 4100.
Support: 3960. If it breaks below, look for 3920-3880.
Today is Friday, and tomorrow is the weekend with the market closed. Today, focus on 4050. If it’s not at the key level, don’t get involved. Save your ammunition, and only go heavy when the crucial bottom is reached. Until then, just play with light positions for short-term trades.
MagaBTC
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Bearish
$XAU
Good morning, bros! Congrats 🎉 to those who are riding the short wave.
Chart 1️⃣ Let's recap yesterday's breakout; it was a smooth slide down 📉.
Today's key focus: Resistance level at 4050; only a breakout here can trigger a bounce, not a reversal!
Previous low at 3960; if we drop below that, we’re looking at a further descent to the 3920-3880 range.
We're nearing the downtrend line, which is a solid shorting position, but I recommend waiting for the US market hours before jumping in.
$XAU Good morning, bros! Congrats 🎉 to those who are riding the short wave.
Chart 1️⃣ Let's recap yesterday's breakout; it was a smooth slide down 📉.
Today's key focus: Resistance level at 4050; only a breakout here can trigger a bounce, not a reversal!
Previous low at 3960; if we drop below that, we’re looking at a further descent to the 3920-3880 range.
We're nearing the downtrend line, which is a solid shorting position, but I recommend waiting for the US market hours before jumping in.
MagaBTC
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Bearish
$XAU
Good morning, bros
Chart 1️⃣ Congrats to the crew who shorted yesterday, they really cashed in! During the late-night US trading session, there were some traps set for longs. I wonder how many got caught in that squeeze.
Chart 2️⃣ Today's key points to watch: Resistance at 4150 here; if we break through, a reversal could be in sight, and then we can look for some longs.
Support at 4090; we've already seen a wick down but it bounced back. Let's see how things unfold; if we continue to drop, our target is 4050.
Daytime (Asian session) action is usually pretty slow, so don’t get involved. Wait until the European and US sessions overlap before making any moves.
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Chart 1️⃣ Congrats to the crew who shorted yesterday, they really cashed in! During the late-night US trading session, there were some traps set for longs. I wonder how many got caught in that squeeze.
Chart 2️⃣ Today's key points to watch: Resistance at 4150 here; if we break through, a reversal could be in sight, and then we can look for some longs.
Support at 4090; we've already seen a wick down but it bounced back. Let's see how things unfold; if we continue to drop, our target is 4050.
Daytime (Asian session) action is usually pretty slow, so don’t get involved. Wait until the European and US sessions overlap before making any moves.
MagaBTC
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Bearish
$XAU
Good morning, bros! Sorry for being late today.
Yesterday, gold broke through 4180 and shot up to 4220 before hitting resistance and pulling back. There's heavy sell pressure above, and now we’re stuck in a sideways chop. The daily and 4-hour charts are looking weak, with no sustained momentum in either direction.
Key levels to watch: Resistance: 4220, we need to break this for a continuation to the upside; next resistance is at 4240-4260. If we break 4260, we might push towards 4330.
Support: 4120, if we break below this, it’ll set up a one-way downtrend, with initial targets at 4070, 4050, or even below 4000.
During the day, it's likely to be a choppy market. Don't jump in yet.
Wait for a breakout at either 4220 resistance or 4120 support before checking the trend.
$XAU Good morning, bros! Sorry for being late today.
Yesterday, gold broke through 4180 and shot up to 4220 before hitting resistance and pulling back. There's heavy sell pressure above, and now we’re stuck in a sideways chop. The daily and 4-hour charts are looking weak, with no sustained momentum in either direction.
Key levels to watch: Resistance: 4220, we need to break this for a continuation to the upside; next resistance is at 4240-4260. If we break 4260, we might push towards 4330.
Support: 4120, if we break below this, it’ll set up a one-way downtrend, with initial targets at 4070, 4050, or even below 4000.
During the day, it's likely to be a choppy market. Don't jump in yet.
Wait for a breakout at either 4220 resistance or 4120 support before checking the trend.
MagaBTC
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Bearish
$XAU
Good morning, brothers
Even though I'm posting this early, the market has already played out the rebound during the morning session.
Let's recap: Currently: Gold prices dropped from 4375 to 4120 last Thursday, then bounced back to 4180 on Friday.
Key focus: 4180 is the crucial watershed; if we hold above it, we can expect a bounce to 4200-4250. But there’s a lot of resistance above, so it’s just a rebound, not a reversal.
If we break below 4120, we might look down to 4070-4050.
Even though I'm posting this early, the market has already played out the rebound during the morning session.
Let's recap: Currently: Gold prices dropped from 4375 to 4120 last Thursday, then bounced back to 4180 on Friday.
Key focus: 4180 is the crucial watershed; if we hold above it, we can expect a bounce to 4200-4250. But there’s a lot of resistance above, so it’s just a rebound, not a reversal.
If we break below 4120, we might look down to 4070-4050.
MagaBTC
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Good morning, bros
It's the Dragon Boat Festival holiday here, wishing everyone a healthy and happy holiday~
$XAU
Pic 1️⃣ First off, congrats to those who followed the strategy yesterday. I clearly mentioned in my last update that all the hype around gold is temporary, and it's not looking optimistic. Currently, I still predict the bottom is around 3600, and when that happens, I'll shout for everyone to scoop up some❗️
Now let's check out today's situation in Pic 2️⃣
The overall trend for gold remains bearish, and any rebounds are just bait for longs; hitting new highs this year is going to be tough. Keep an eye on these levels: Support below: 4170-4120; if we break this level, we're heading lower 📉
Resistance above: We need to stabilize above 4240 to end the downtrend; otherwise, any bounce is a shorting opportunity.
Just a reminder, support isn’t meant for going long but serves as a reference for taking profits on shorts. Conversely, resistance is for taking profits on longs, not where you want to short.
It's the Dragon Boat Festival holiday here, wishing everyone a healthy and happy holiday~
$XAU Pic 1️⃣ First off, congrats to those who followed the strategy yesterday. I clearly mentioned in my last update that all the hype around gold is temporary, and it's not looking optimistic. Currently, I still predict the bottom is around 3600, and when that happens, I'll shout for everyone to scoop up some❗️
Now let's check out today's situation in Pic 2️⃣
The overall trend for gold remains bearish, and any rebounds are just bait for longs; hitting new highs this year is going to be tough. Keep an eye on these levels: Support below: 4170-4120; if we break this level, we're heading lower 📉
Resistance above: We need to stabilize above 4240 to end the downtrend; otherwise, any bounce is a shorting opportunity.
Just a reminder, support isn’t meant for going long but serves as a reference for taking profits on shorts. Conversely, resistance is for taking profits on longs, not where you want to short.
MagaBTC
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Bearish
$XAU
Good morning, bros! With the conclusion of last night's Fed meeting and Walsh's debut, we've seen some intense bull and bear battles on the charts.
We had a little pump before the meeting, but things tanked sharply as we approached it.
Right now, the market sentiment isn't too optimistic, so keep an eye on these levels: Resistance at 4340; if we break through, we’ll continue to look bullish, aiming for the previous high at 4380.
Support sits at 4220, which was last night's low. If we break that, we might head back towards previous lows.
Don't go all-in, fam. Personally, I anticipate that if we confirm 🦅 hawkish rate hikes, gold's bottom should be between 3700-3500.
Also, tomorrow kicks off the holiday here, so early wishes for a happy holiday, bros!
$XAU Good morning, bros! With the conclusion of last night's Fed meeting and Walsh's debut, we've seen some intense bull and bear battles on the charts.
We had a little pump before the meeting, but things tanked sharply as we approached it.
Right now, the market sentiment isn't too optimistic, so keep an eye on these levels: Resistance at 4340; if we break through, we’ll continue to look bullish, aiming for the previous high at 4380.
Support sits at 4220, which was last night's low. If we break that, we might head back towards previous lows.
Don't go all-in, fam. Personally, I anticipate that if we confirm 🦅 hawkish rate hikes, gold's bottom should be between 3700-3500.
Also, tomorrow kicks off the holiday here, so early wishes for a happy holiday, bros!
MagaBTC
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Bearish
$XAU
Good afternoon, bros! Sorry for the late update today.
Chart 1️⃣ is yesterday's overall forecast. Right now, due to the news cycle, the market hasn't picked a direction yet. We’re waiting for the Fed's new chair, Waller, to drop the latest policy at 2:30 AM tomorrow 🕝 on the 18th.
I wouldn’t recommend anyone to enter the market today.
Just hang tight, wait for the news, and see which way the market breaks out.
⚠️ Keep an eye on these key levels: Resistance at 4370; if we break that, the next targets are 4430-4460.
Support at 4300; if we break that, the next target is around 4250.
You can check out the three-wave pattern I drew.
In my personal view and forecast, it's highly likely we’re looking at tapering; rate hikes or cuts aren’t the main focus anymore. As long as tapering doesn’t happen, the party can keep going.
Good afternoon, bros! Sorry for the late update today.
Chart 1️⃣ is yesterday's overall forecast. Right now, due to the news cycle, the market hasn't picked a direction yet. We’re waiting for the Fed's new chair, Waller, to drop the latest policy at 2:30 AM tomorrow 🕝 on the 18th.
I wouldn’t recommend anyone to enter the market today.
Just hang tight, wait for the news, and see which way the market breaks out.
⚠️ Keep an eye on these key levels: Resistance at 4370; if we break that, the next targets are 4430-4460.
Support at 4300; if we break that, the next target is around 4250.
You can check out the three-wave pattern I drew.
In my personal view and forecast, it's highly likely we’re looking at tapering; rate hikes or cuts aren’t the main focus anymore. As long as tapering doesn’t happen, the party can keep going.
MagaBTC
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Bearish
Good morning, bros
$XAU
Chart 1️⃣ is my early prediction, and the market is showing some respect—almost spot on.
Today, we need to keep a close eye on a few levels.
Resistance is around 4360-4370; if we break that, we’re looking at 4400-4450. Only then could we see an actual uptrend instead of just a bounce back.
Support is in the 4250-4230 range. If we slice through 4200 like butter, this bounce is done for, and the market will continue its downward trend. Time to go bold and short.
Remember, try not to engage during the Asian session; wait for the European session and the overlap with the US session for the best trading opportunities.
$XAU Chart 1️⃣ is my early prediction, and the market is showing some respect—almost spot on.
Today, we need to keep a close eye on a few levels.
Resistance is around 4360-4370; if we break that, we’re looking at 4400-4450. Only then could we see an actual uptrend instead of just a bounce back.
Support is in the 4250-4230 range. If we slice through 4200 like butter, this bounce is done for, and the market will continue its downward trend. Time to go bold and short.
Remember, try not to engage during the Asian session; wait for the European session and the overlap with the US session for the best trading opportunities.
MagaBTC
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$XAU
Temporary addition
Currently, during the European session, we still haven't broken 4365. I recommend everyone to reduce their positions; conservative traders can consider exiting completely and wait for lower levels to try going long again.
Don't get too excited; the pumps from news events don't guarantee a bull run ahead. Macro pressures are still rising, so don't let joy cloud your judgment❗️
Currently, during the European session, we still haven't broken 4365. I recommend everyone to reduce their positions; conservative traders can consider exiting completely and wait for lower levels to try going long again.
Don't get too excited; the pumps from news events don't guarantee a bull run ahead. Macro pressures are still rising, so don't let joy cloud your judgment❗️
MagaBTC
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Bearish
$XAU Good morning, bros! It’s Monday, the market's open.
First off, congrats to the bulls who jumped in!
Gold's not likely to hit new highs in the second half of this year; we're seeing an overall downtrend. After forming a double top structure in March-April, the highs in May-June have gradually dropped to 4595. This level is a key watershed; if it doesn’t break 4595, any bullish news will just lead to a rebound before we see another drop.
Short-term focus: Resistance above at 4250. If it breaks, we might see a short-term rebound to 4350-4400, but remember, a rebound doesn’t mean a reversal.
Support below at 4170. If it breaks, we could continue to probe lower to 4120-4080; breaking 4020 could lead us to the 3xxx range.
The core logic is that geopolitical good news can only provide short-term relief; the overall trend is still bearish.
Let’s watch for a range between 4170-4250; if it doesn’t break 4250, it's still bearish. If it breaks, we might consider going long, but don’t chase the highs.
$XAU Good morning, bros! It’s Monday, the market's open.
First off, congrats to the bulls who jumped in! Gold's not likely to hit new highs in the second half of this year; we're seeing an overall downtrend. After forming a double top structure in March-April, the highs in May-June have gradually dropped to 4595. This level is a key watershed; if it doesn’t break 4595, any bullish news will just lead to a rebound before we see another drop.
Short-term focus: Resistance above at 4250. If it breaks, we might see a short-term rebound to 4350-4400, but remember, a rebound doesn’t mean a reversal.
Support below at 4170. If it breaks, we could continue to probe lower to 4120-4080; breaking 4020 could lead us to the 3xxx range.
The core logic is that geopolitical good news can only provide short-term relief; the overall trend is still bearish.
Let’s watch for a range between 4170-4250; if it doesn’t break 4250, it's still bearish. If it breaks, we might consider going long, but don’t chase the highs.
MagaBTC
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$XAU
Good morning, brothers
First off, congrats to those who went long last night; we successfully broke out, but it’s not time to celebrate yet.
After breaking 4120, this level has turned from resistance to short-term support, and the downtrend is slowing down. We can look for a bounce in the short term (note: it's a bounce ⚠️).
This morning, we hit 4246 but faced resistance and pulled back. That’s a key resistance level in the four-hour descending channel.
Today’s price action could go two ways: Either we retest the 4120 support and stabilize before going bullish, or we break through 4250 (the intraday pivot point for strength). If we break that, a double bottom reversal could form, breaking the descending channel, and if we retest support, we can continue to look long.
Upper resistance levels are at 4365 and 4475; there’s quite a bit of pressure there. But keep in mind, on the daily chart, there hasn’t been a reversal yet. The overall trend is still bearish; this is just a short-term bounce, so don’t blindly look for a long-term reversal, okay?
First off, congrats to those who went long last night; we successfully broke out, but it’s not time to celebrate yet.
After breaking 4120, this level has turned from resistance to short-term support, and the downtrend is slowing down. We can look for a bounce in the short term (note: it's a bounce ⚠️).
This morning, we hit 4246 but faced resistance and pulled back. That’s a key resistance level in the four-hour descending channel.
Today’s price action could go two ways: Either we retest the 4120 support and stabilize before going bullish, or we break through 4250 (the intraday pivot point for strength). If we break that, a double bottom reversal could form, breaking the descending channel, and if we retest support, we can continue to look long.
Upper resistance levels are at 4365 and 4475; there’s quite a bit of pressure there. But keep in mind, on the daily chart, there hasn’t been a reversal yet. The overall trend is still bearish; this is just a short-term bounce, so don’t blindly look for a long-term reversal, okay?
MagaBTC
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Bearish
Good morning, bros $XAU
This morning, the gold price dropped to 4024, breaking below the March low of 4100. The momentum has been pretty weak since last Friday.
News: 1. The US-Iran conflict escalated again after a ceasefire. 2. The US May CPI hit 4.2% (a three-year high), and the market is buzzing with calls for rate hikes.
Technical Analysis: The weekly chart shows a double top structure; it’s going to be tough to hit new highs this year. The overall trend is leaning towards a downward consolidation.
Both the daily and hourly charts are in a downtrend channel, and any rebound lacks strength. Unless we get some major positive news, a reversal seems unlikely.
Key Levels: Resistance: 4140 is the dividing line for today; as long as it holds, we’re still in the downward trend.
4100 has flipped from support to resistance, so any bounce back to this level could lead to another drop.
Support: 4000; if we break below this, we might see 3950-3900.
This morning, the gold price dropped to 4024, breaking below the March low of 4100. The momentum has been pretty weak since last Friday.
News: 1. The US-Iran conflict escalated again after a ceasefire. 2. The US May CPI hit 4.2% (a three-year high), and the market is buzzing with calls for rate hikes.
Technical Analysis: The weekly chart shows a double top structure; it’s going to be tough to hit new highs this year. The overall trend is leaning towards a downward consolidation.
Both the daily and hourly charts are in a downtrend channel, and any rebound lacks strength. Unless we get some major positive news, a reversal seems unlikely.
Key Levels: Resistance: 4140 is the dividing line for today; as long as it holds, we’re still in the downward trend.
4100 has flipped from support to resistance, so any bounce back to this level could lead to another drop.
Support: 4000; if we break below this, we might see 3950-3900.
MagaBTC
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Bearish
$XAU
Overall strategy remains unchanged
Currently, gold prices are in a free fall, dropping from last week's 4475 all the way down to this morning's 4210.
Today, the key level to watch is 4275. If we hold above that, we might see a short-term bounce to 4300-4310. If it doesn't break, any rebound is just a bull trap, and we can short at resistance.
On the downside, 4100 is the support level; if we break that, we could see an accelerated drop. Remember, don't catch the falling knife right now!
Just a reminder to everyone to avoid common pitfalls: In a downtrend, support is a signal to exit, while resistance is where you short.
Conversely,
In an uptrend, resistance is a signal to exit, while support is where you long. Try not to trade against the trend.
Currently, gold prices are in a free fall, dropping from last week's 4475 all the way down to this morning's 4210.
Today, the key level to watch is 4275. If we hold above that, we might see a short-term bounce to 4300-4310. If it doesn't break, any rebound is just a bull trap, and we can short at resistance.
On the downside, 4100 is the support level; if we break that, we could see an accelerated drop. Remember, don't catch the falling knife right now!
Just a reminder to everyone to avoid common pitfalls: In a downtrend, support is a signal to exit, while resistance is where you short.
Conversely,
In an uptrend, resistance is a signal to exit, while support is where you long. Try not to trade against the trend.
MagaBTC
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Bearish
$XAU
Last Friday's non-farm data exceeded expectations, shifting the market's focus towards rate hikes by year-end. The dollar surged past 100, while gold prices plummeted from 4475 to 4310, currently hovering around 4341 with weak consolidation.
The daily chart shows a bearish trend,
A breakout above the 4595-4600 resistance zone is needed for a reversal!
Key resistances are at 4360-4370 and 4420.
If it breaks below 4300, we could see a drop to 4280-4250.
As long as 4475 isn't breached, we’re just maintaining a downward rebound; this rebound isn't a reversal❗️
Today's analysis is here Currently in a consolidation zone, mainly watching the day session
Keep an eye on a few key levels
Resistance levels 1. 4355 - this is also a previous high on a smaller time frame, and the price has been rejected here multiple times 2. If we break through 4355, the next resistance level is 4475, which is also where the last downturn began.
Support level 4260 - the last spike low before the drop
Using the three-wave pattern shown in the image as a reference, once the European and US sessions overlap, the price action should become clearer.
MagaBTC
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Bearish
$XAU
Last Friday's non-farm data exceeded expectations, shifting the market's focus towards rate hikes by year-end. The dollar surged past 100, while gold prices plummeted from 4475 to 4310, currently hovering around 4341 with weak consolidation.
The daily chart shows a bearish trend,
A breakout above the 4595-4600 resistance zone is needed for a reversal!
Key resistances are at 4360-4370 and 4420.
If it breaks below 4300, we could see a drop to 4280-4250.
As long as 4475 isn't breached, we’re just maintaining a downward rebound; this rebound isn't a reversal❗️
$XAU Last Friday's non-farm data exceeded expectations, shifting the market's focus towards rate hikes by year-end. The dollar surged past 100, while gold prices plummeted from 4475 to 4310, currently hovering around 4341 with weak consolidation.
The daily chart shows a bearish trend,
A breakout above the 4595-4600 resistance zone is needed for a reversal!
Key resistances are at 4360-4370 and 4420.
If it breaks below 4300, we could see a drop to 4280-4250.
As long as 4475 isn't breached, we’re just maintaining a downward rebound; this rebound isn't a reversal❗️
MagaBTC
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$XAU
Congrats to the bros who got in on the short! Remember to take profits and exit—don't hold on too long.