11.6 Luo Yi Huangyu Morning Outlook🔥
Trend outlook
After a sharp overnight shakeout, the dip fully released bearish momentum. With the low now established, this looks like a pullback to build strength overall. I expect a rebound after an early-morning test of the lows. With the NFP report approaching, any pullback offers a good opportunity to go long at lower levels—don't chase the move by going short.
Market recap
Last night, the price rose to 4146.79 before meeting resistance and pulling back, then dipped to a low of 4076.33. The current price is 4088.41. This decline was mainly a shakeout of traders chasing shorts and rallies; support below held, so this is not a trend reversal.
Market analysis
Everyone is waiting for the NFP report to set the direction. Overnight, both longs and shorts were caught out in turn. After stops below were swept, conditions for a bullish rebound are gradually taking shape. The market is still moving in a wide range, but its center of gravity is shifting toward a recovery and a move higher. Be patient and look to buy dips; keep position sizes under strict control and maintain proper risk protection.
Trading plan
Look to establish a short-term long position if the price pulls back to 4078–4082 and stabilizes, with a stop at 4072. The first target is 4098; if it holds above that level, look next to 4110. If the price rallies into resistance above, consider taking short-term profits—don't chase the highs.
$XAU #XAUUSD
Trend outlook
After a sharp overnight shakeout, the dip fully released bearish momentum. With the low now established, this looks like a pullback to build strength overall. I expect a rebound after an early-morning test of the lows. With the NFP report approaching, any pullback offers a good opportunity to go long at lower levels—don't chase the move by going short.
Market recap
Last night, the price rose to 4146.79 before meeting resistance and pulling back, then dipped to a low of 4076.33. The current price is 4088.41. This decline was mainly a shakeout of traders chasing shorts and rallies; support below held, so this is not a trend reversal.
Market analysis
Everyone is waiting for the NFP report to set the direction. Overnight, both longs and shorts were caught out in turn. After stops below were swept, conditions for a bullish rebound are gradually taking shape. The market is still moving in a wide range, but its center of gravity is shifting toward a recovery and a move higher. Be patient and look to buy dips; keep position sizes under strict control and maintain proper risk protection.
Trading plan
Look to establish a short-term long position if the price pulls back to 4078–4082 and stabilizes, with a stop at 4072. The first target is 4098; if it holds above that level, look next to 4110. If the price rallies into resistance above, consider taking short-term profits—don't chase the highs.
$XAU #XAUUSD
