📈 Gold Yesterday Review｜M5 Model Shorts Take Profit Smoothly, Today Pullback Mainly Short
On Wednesday, the M5 model’s first wave of shorting on a black screen successfully reached the profit target.
Bought near 4300 on the pullback, captured a 150-point profit, and fully exited both positions.
Market recap: Gold surged to 4370 in the early session, then weakened steadily. In the European session it broke below 4300, with a low of 4274. The daily chart closed with a large bearish candle, with a total daily range of 947 points.
The U.S. PMI data significantly beat expectations, and comments from Fed officials were more hawkish, which warmed up rate-hike expectations and weighed on gold prices. Geopolitical news provided support at lower levels, and the early-session rebound to 4303 met resistance again, making new lows.
Today’s plan:
Pullback-based shorts are the main focus. Short at 4310 and 4320 on the rebound.
Scale in to short. Take profit at 150–250 points. Stop loss at 4335.
Key levels:
Short-term resistance: 4303, 4320
Short-term support: 4270, 4250
Major range resistance: 4370/4400. Support: 4250/4200
Focus on: economic data releases from multiple countries, the Swiss National Bank’s rate decision, and market moves driven by Fed officials’ remarks.
$XAU
On Wednesday, the M5 model’s first wave of shorting on a black screen successfully reached the profit target.
Bought near 4300 on the pullback, captured a 150-point profit, and fully exited both positions.
Market recap: Gold surged to 4370 in the early session, then weakened steadily. In the European session it broke below 4300, with a low of 4274. The daily chart closed with a large bearish candle, with a total daily range of 947 points.
The U.S. PMI data significantly beat expectations, and comments from Fed officials were more hawkish, which warmed up rate-hike expectations and weighed on gold prices. Geopolitical news provided support at lower levels, and the early-session rebound to 4303 met resistance again, making new lows.
Today’s plan:
Pullback-based shorts are the main focus. Short at 4310 and 4320 on the rebound.
Scale in to short. Take profit at 150–250 points. Stop loss at 4335.
Key levels:
Short-term resistance: 4303, 4320
Short-term support: 4270, 4250
Major range resistance: 4370/4400. Support: 4250/4200
Focus on: economic data releases from multiple countries, the Swiss National Bank’s rate decision, and market moves driven by Fed officials’ remarks.
$XAU
