📊 Golden Week Monday Trading Recap | M5 Model Short Order Profitably Closed
On Monday, gold saw a 606-point wide-range consolidation throughout the day. During the Asian session it surged and then pulled back; in the U.S. session it dipped to the 4322 low and rebounded. The daily candle closed as a small-bodied bearish candle with short upper and lower wicks.
A group of Federal Reserve officials collectively issued hawkish remarks, supporting the U.S. dollar and suppressing safe-haven demand. Meanwhile, expectations for improved U.S.-Iran diplomacy heated up, but partial conflicts in the Middle East are still ongoing, making the long/short battle intense.
Today’s approach: buy on pullbacks as the main plan
Enter in batches: 4340, 4330
Take profit: 150–250 points
Stop loss: 4315 (resistance: 4400/4440; support: 4320/4300)
$XAU
On Monday, gold saw a 606-point wide-range consolidation throughout the day. During the Asian session it surged and then pulled back; in the U.S. session it dipped to the 4322 low and rebounded. The daily candle closed as a small-bodied bearish candle with short upper and lower wicks.
A group of Federal Reserve officials collectively issued hawkish remarks, supporting the U.S. dollar and suppressing safe-haven demand. Meanwhile, expectations for improved U.S.-Iran diplomacy heated up, but partial conflicts in the Middle East are still ongoing, making the long/short battle intense.
Today’s approach: buy on pullbacks as the main plan
Enter in batches: 4340, 4330
Take profit: 150–250 points
Stop loss: 4315 (resistance: 4400/4440; support: 4320/4300)
$XAU
