$XAU Yesterday Trading Summary: On Wednesday, gold used the M5 basic application model for short-term trades. According to the M5 model, during the 3rd wave of the black-screen session, going long achieved the profit target.
Intraday trading recommendation: Wait for a pullback to around 4360 and 4375, then split entries to go short, and exit with a stop loss.
Viewpoint: On Wednesday, during the Asian session, gold saw a slight decline, breaking to a new low around 4323.7, then stabilized and rebounded. It approached the 38.2% retracement level from the previous trading day and met resistance, followed by a small pullback and another stabilization. During the European session, it began a choppy upward movement. In the US session, after the US Treasury unexpectedly announced that it would double the scale of long-term Treasury buyback operations to support market liquidity, the rally accelerated. Prices surged rapidly, continuously making new highs, reaching around 4525. The total daily move was about 2003 points. The daily candle closed as a strong bullish candle with small upper and lower shadows.
The “black swan” caused by US Treasury buybacks ignited precious metals, driving gold up about 4%. The 30-year US Treasury yield fell sharply from its near 19-year high, and the dollar hit a new three-month low.
The Middle East situation continues to support oil prices. Trump announced the “strictest” economic sanctions against Iran and warned other countries not to provide any support.
Early today, price slightly surged and broke yesterday’s high, reaching around 4527 before rejecting and pulling back. On the H4 timeframe, a bearish engulfing pattern formed. The MACD continues a golden cross above the zero line. On the H1 timeframe, the MACD formed a dead cross above the zero line. Wait for further pullback and consolidation. Support is around 4480 and around 4450. Today’s strategy suggests going long on dips, and the intraday three-color-line strategy can be combined with the M5 basic model for execution.
Key intraday focus: Watch resistance at around 4590 and 4527. Watch support at around 4450 and 4407.
Intraday trading recommendation: On Wednesday, gold slightly broke lower before stabilizing and rebounding, moving higher all the way. After the news, it surged quickly to set a new high in nearly two months. Today’s strategy suggests waiting for a pullback to the 4460–4450 area to go long. Take profit: 150–250 points. Stop loss: around 4430.
$XAU
Intraday trading recommendation: Wait for a pullback to around 4360 and 4375, then split entries to go short, and exit with a stop loss.
Viewpoint: On Wednesday, during the Asian session, gold saw a slight decline, breaking to a new low around 4323.7, then stabilized and rebounded. It approached the 38.2% retracement level from the previous trading day and met resistance, followed by a small pullback and another stabilization. During the European session, it began a choppy upward movement. In the US session, after the US Treasury unexpectedly announced that it would double the scale of long-term Treasury buyback operations to support market liquidity, the rally accelerated. Prices surged rapidly, continuously making new highs, reaching around 4525. The total daily move was about 2003 points. The daily candle closed as a strong bullish candle with small upper and lower shadows.
The “black swan” caused by US Treasury buybacks ignited precious metals, driving gold up about 4%. The 30-year US Treasury yield fell sharply from its near 19-year high, and the dollar hit a new three-month low.
The Middle East situation continues to support oil prices. Trump announced the “strictest” economic sanctions against Iran and warned other countries not to provide any support.
Early today, price slightly surged and broke yesterday’s high, reaching around 4527 before rejecting and pulling back. On the H4 timeframe, a bearish engulfing pattern formed. The MACD continues a golden cross above the zero line. On the H1 timeframe, the MACD formed a dead cross above the zero line. Wait for further pullback and consolidation. Support is around 4480 and around 4450. Today’s strategy suggests going long on dips, and the intraday three-color-line strategy can be combined with the M5 basic model for execution.
Key intraday focus: Watch resistance at around 4590 and 4527. Watch support at around 4450 and 4407.
Intraday trading recommendation: On Wednesday, gold slightly broke lower before stabilizing and rebounding, moving higher all the way. After the news, it surged quickly to set a new high in nearly two months. Today’s strategy suggests waiting for a pullback to the 4460–4450 area to go long. Take profit: 150–250 points. Stop loss: around 4430.
$XAU