Gold Intraday Thoughts (10/8):
(These daily thoughts are solely my personal market analysis and forecast, not a basis for copy trading. Trading involves risk, so please prioritize risk management!)
Gold has not finished falling; this round’s likely bottom may need to be found below 4,000.
The weakness I highlighted over the past two days has now largely played out. The weekly, daily, and hourly charts are all showing weakness.
However, there is strong support throughout the 4,000–4,100 range. For short-term trading, the best approach in this area is not to stubbornly hold positions, but to sell each rebound step by step: 4065-4055-4040-4020-4000-3900-3970
Once the market moves below 4020, try to avoid late-stage short positions and look for an opportunity to enter long.
Yesterday, gold rebounded off support at 4065 to its current level. The best short entry today is around 4140; if you’re not aiming for the perfect entry, you can also consider entering above 4120.
First, watch yesterday’s low. If it breaks, focus on 4040. #XAUUSD $XAU
(These daily thoughts are solely my personal market analysis and forecast, not a basis for copy trading. Trading involves risk, so please prioritize risk management!)
Gold has not finished falling; this round’s likely bottom may need to be found below 4,000.
The weakness I highlighted over the past two days has now largely played out. The weekly, daily, and hourly charts are all showing weakness.
However, there is strong support throughout the 4,000–4,100 range. For short-term trading, the best approach in this area is not to stubbornly hold positions, but to sell each rebound step by step: 4065-4055-4040-4020-4000-3900-3970
Once the market moves below 4020, try to avoid late-stage short positions and look for an opportunity to enter long.
Yesterday, gold rebounded off support at 4065 to its current level. The best short entry today is around 4140; if you’re not aiming for the perfect entry, you can also consider entering above 4120.
First, watch yesterday’s low. If it breaks, focus on 4040. #XAUUSD $XAU