In the early gold phase, a strong bullish wave has already emerged, pushing up to the 4449 peak. On the 4-hour chart, the 20-period moving average continues to extend upward, and the foundation of the larger bullish structure remains intact. The current pullback is part of the post-breakout retracement and repair phase, not a trend reversal into a bearish move.
In the short term, the 5- and 10-period moving averages have turned downward, and bearish forces are currently in control. The market still faces pressure to digest the pullback.
When bottom-fishing, do not rush into positions. Don’t make subjective assumptions about the bottom or blindly take long positions during every decline with heavy sizing. Wait for key support levels to show clear stabilization signals. Only after you see buying interest entering the market should you plan your position following the trend. If support is decisively broken through by a body candlestick, then the low-long idea should be abandoned immediately.
Trading recommendations
After the price retraces and stabilizes in the 4300–4315 range, consider placing long orders. The upward targets are 4350–4375.
In the short term, the 5- and 10-period moving averages have turned downward, and bearish forces are currently in control. The market still faces pressure to digest the pullback.
When bottom-fishing, do not rush into positions. Don’t make subjective assumptions about the bottom or blindly take long positions during every decline with heavy sizing. Wait for key support levels to show clear stabilization signals. Only after you see buying interest entering the market should you plan your position following the trend. If support is decisively broken through by a body candlestick, then the low-long idea should be abandoned immediately.
Trading recommendations
After the price retraces and stabilizes in the 4300–4315 range, consider placing long orders. The upward targets are 4350–4375.