9.23 Yellow Croaker Thought Analysis
Yesterday, gold completed a deep drop and then staged a corrective rebound. During the session, after dipping to the low point at 4291, it formed a V-shaped reversal. The lows kept rising; price rallied upward, regaining lost ground, and tested resistance near 4370 to the upside.
On the 1-hour timeframe, the bulls have the upper hand in the recovery, but as it approaches an important historical resistance zone, it is not advisable to chase a long position directly. The key focus is whether the break above 4370–4380 is valid. In this rebound-and-consolidation market, the probability of “stop-hunting”/shaking out price is high. Be sure to strictly control position sizing and use proper stop-loss and risk management.
Trade idea: Sell (short) 4370–4380; place a stop above 4390; target 4300.
(These are personal suggestions for reference only—everything is subject to real-time trading.)#XAU
Yesterday, gold completed a deep drop and then staged a corrective rebound. During the session, after dipping to the low point at 4291, it formed a V-shaped reversal. The lows kept rising; price rallied upward, regaining lost ground, and tested resistance near 4370 to the upside.
On the 1-hour timeframe, the bulls have the upper hand in the recovery, but as it approaches an important historical resistance zone, it is not advisable to chase a long position directly. The key focus is whether the break above 4370–4380 is valid. In this rebound-and-consolidation market, the probability of “stop-hunting”/shaking out price is high. Be sure to strictly control position sizing and use proper stop-loss and risk management.
Trade idea: Sell (short) 4370–4380; place a stop above 4390; target 4300.
(These are personal suggestions for reference only—everything is subject to real-time trading.)#XAU
