8.24 Gold Morning Outlook:
On the 4-hour timeframe, the K-line lows are continually rising, and the overall bullish structure remains intact. The upward momentum at the higher level has not been broken.
Although the broader bullish trend hasn’t been damaged yet, this kind of extremely squeeze-driven行情 carries very high risk. Even in a bullish market, never chase the price upward—buying in at the top means you’re taking the spot at a high level, with extremely high risk.
On the daily chart, as long as you get a bearish candle, or a doji forms at the high level, the short-term top is basically confirmed. After that, a pullback and correction is likely to follow. So this week, everyone doesn’t need to rush and worry about missing the move—wait patiently for the daily chart to print a clear signal. Once the price pulls back, then we can consider going long at that point.
The 4-hour timeframe will follow the daily trend. Right now, the market looks strong and the moving averages are in a bullish arrangement. However, signs of divergence have already appeared at the high level, and a pullback and decline could happen at any time. Focus on the key supports at 4580 and 4500.
Trading suggestions:
For a rebound, look to short around 4660–4670 under resistance. Targets: 4600–4580. Stop-loss: 4580.
If it retraces to 4580–4590 and stabilizes, you can chase a long. Targets: 4650–4680. Stop-loss: 4570.
#XAU
On the 4-hour timeframe, the K-line lows are continually rising, and the overall bullish structure remains intact. The upward momentum at the higher level has not been broken.
Although the broader bullish trend hasn’t been damaged yet, this kind of extremely squeeze-driven行情 carries very high risk. Even in a bullish market, never chase the price upward—buying in at the top means you’re taking the spot at a high level, with extremely high risk.
On the daily chart, as long as you get a bearish candle, or a doji forms at the high level, the short-term top is basically confirmed. After that, a pullback and correction is likely to follow. So this week, everyone doesn’t need to rush and worry about missing the move—wait patiently for the daily chart to print a clear signal. Once the price pulls back, then we can consider going long at that point.
The 4-hour timeframe will follow the daily trend. Right now, the market looks strong and the moving averages are in a bullish arrangement. However, signs of divergence have already appeared at the high level, and a pullback and decline could happen at any time. Focus on the key supports at 4580 and 4500.
Trading suggestions:
For a rebound, look to short around 4660–4670 under resistance. Targets: 4600–4580. Stop-loss: 4580.
If it retraces to 4580–4590 and stabilizes, you can chase a long. Targets: 4650–4680. Stop-loss: 4570.
#XAU