🔥【11.04 Gold Market Recap + Intraday Outlook】
✅ Yesterday’s recap (Tuesday)
Yesterday’s M5 model short-term strategy had a planned short-entry zone at 4000/4010. The day’s high was only 3971, so the short orders were not filled.
The market formed a textbook V-shape: it edged up to 3964 during the Asian session before facing resistance and pulling back; fell to a low of 3896 during the European session, where it found support; then rebounded to a high of 3971 during the U.S. session before pulling back again. The day’s range was 760 points, and the daily candle closed bearish with wicks on both ends.
📊 Key drivers
1. U.S. data: JOLTs job openings and factory orders came in stronger than expected, signaling resilience in the labor market;
2. Midterm election results: Democrats won a key Senate seat in North Carolina, fueling expectations of a divided Congress and weighing on the dollar;
3. Geopolitics: The U.S. said there were no immediate plans to strike Iran, while nuclear talks continued. Oil prices fell and safe-haven sentiment cooled.
📈 Technical outlook
Early-session range: 3920–3964, with wide swings that gradually narrowed
H4: Closed with a bullish candle and a relatively long upper wick; MACD formed a golden cross below the zero line, with the histogram lengthening
H1: MACD formed a golden cross above the zero line, but momentum weakened
Resistance: 3964, 3975, 4010
Support: 3920, 3890, 3870
💡 Intraday strategy reference
Direction: Sell rallies and buy dips within the range; use the three-color line and M5 model for short-term trades
👉 Consider shorting on a rebound into the 3965–3970 zone
Take profit: 150–250 points
Stop loss: 3985
📅 Key data to watch today
Final services PMIs from several countries, preliminary Eurozone CPI, U.S. ADP employment, ISM Non-Manufacturing PMI, and the U.S. Treasury’s quarterly refunding announcement. With a packed data calendar, volatility could increase—keep position sizes under strict control!
$XAU
✅ Yesterday’s recap (Tuesday)
Yesterday’s M5 model short-term strategy had a planned short-entry zone at 4000/4010. The day’s high was only 3971, so the short orders were not filled.
The market formed a textbook V-shape: it edged up to 3964 during the Asian session before facing resistance and pulling back; fell to a low of 3896 during the European session, where it found support; then rebounded to a high of 3971 during the U.S. session before pulling back again. The day’s range was 760 points, and the daily candle closed bearish with wicks on both ends.
📊 Key drivers
1. U.S. data: JOLTs job openings and factory orders came in stronger than expected, signaling resilience in the labor market;
2. Midterm election results: Democrats won a key Senate seat in North Carolina, fueling expectations of a divided Congress and weighing on the dollar;
3. Geopolitics: The U.S. said there were no immediate plans to strike Iran, while nuclear talks continued. Oil prices fell and safe-haven sentiment cooled.
📈 Technical outlook
Early-session range: 3920–3964, with wide swings that gradually narrowed
H4: Closed with a bullish candle and a relatively long upper wick; MACD formed a golden cross below the zero line, with the histogram lengthening
H1: MACD formed a golden cross above the zero line, but momentum weakened
Resistance: 3964, 3975, 4010
Support: 3920, 3890, 3870
💡 Intraday strategy reference
Direction: Sell rallies and buy dips within the range; use the three-color line and M5 model for short-term trades
👉 Consider shorting on a rebound into the 3965–3970 zone
Take profit: 150–250 points
Stop loss: 3985
📅 Key data to watch today
Final services PMIs from several countries, preliminary Eurozone CPI, U.S. ADP employment, ISM Non-Manufacturing PMI, and the U.S. Treasury’s quarterly refunding announcement. With a packed data calendar, volatility could increase—keep position sizes under strict control!
$XAU
