9.9 Gold Afternoon Strategy
The daily Bollinger Bands continue to narrow. Price is trading below the middle band under pressure. The attached indicator clearly shows bearish signals. There is a possibility that the Bollinger Bands will open downward, and the overall market has a higher probability of pulling back.
The 4-hour chart has already broken through the previous consolidation range. In the short term, the moving averages have turned down and formed resistance. Although the smaller timeframes show a slight technical rebound/repair, it only temporarily slows the rate of decline and does not change the downward direction.
In the bigger picture, this is a sell-off trend with a pullback at high levels. The current upward movement is merely a rebound repair within the downtrend, not a reversal. There is a significant amount of trapped liquidity above. Once price reaches the resistance area, it is likely to face selling pressure. The rebound candle is weak in strength: there is no continuous large-volume bullish breakout. The bulls mainly rely on short-term speculation rather than continuous support from major funds, so it is difficult to achieve a one-way uptrend. In terms of approach, prioritize short opportunities after the rebound meets resistance. Key levels to watch are resistance at 4400 and 4420!
Trading Plan
Entry: After a rebound to the 4415-4425 range, take a short position when it faces resistance. Targets: 4370. After a breakout, look for 4350, 4330.
(These are personal suggestions for reference only. Remember to set a stop loss, and manage risk properly.)
#黄金 #币安人生
The daily Bollinger Bands continue to narrow. Price is trading below the middle band under pressure. The attached indicator clearly shows bearish signals. There is a possibility that the Bollinger Bands will open downward, and the overall market has a higher probability of pulling back.
The 4-hour chart has already broken through the previous consolidation range. In the short term, the moving averages have turned down and formed resistance. Although the smaller timeframes show a slight technical rebound/repair, it only temporarily slows the rate of decline and does not change the downward direction.
In the bigger picture, this is a sell-off trend with a pullback at high levels. The current upward movement is merely a rebound repair within the downtrend, not a reversal. There is a significant amount of trapped liquidity above. Once price reaches the resistance area, it is likely to face selling pressure. The rebound candle is weak in strength: there is no continuous large-volume bullish breakout. The bulls mainly rely on short-term speculation rather than continuous support from major funds, so it is difficult to achieve a one-way uptrend. In terms of approach, prioritize short opportunities after the rebound meets resistance. Key levels to watch are resistance at 4400 and 4420!
Trading Plan
Entry: After a rebound to the 4415-4425 range, take a short position when it faces resistance. Targets: 4370. After a breakout, look for 4350, 4330.
(These are personal suggestions for reference only. Remember to set a stop loss, and manage risk properly.)
#黄金 #币安人生
