🔥 Luo Yi’s Gold Market Outlook: Weekly Review
Markets were volatile this week, with the U.S. jobs report taking center stage. Price action was repeatedly shaken out by sharp wicks, but I held firmly to the main directional view throughout. When prices had already fallen to around 3,870 and fear was spreading across the market, with sentiment overwhelmingly bearish, I firmly laid out my long-term bullish outlook. I pointed out that this was merely a major shakeout, not a trend reversal, and provided a tiered plan for entering positions, guiding everyone to build long-term core holdings at lower levels.
Gold then began its upward move as expected, steadily reaching the first target at 4,030 and climbing as high as 4,146. Along the way, I repeatedly reminded everyone that resistance lay around 4,050 and 4,140. Those with larger positions could take profits in stages to lock in gains, while keeping a breakeven stop on their remaining long-term positions and holding for the ultimate target of 4,180. I also repeatedly warned against blindly chasing prices at highs; anyone looking to enter should patiently wait for a pullback.
After the U.S. jobs report was released, even though the data leaned bearish, prices quickly recovered after dipping. Buying support below remained strong, and the bullish structure was not broken. I managed short-term bullish and bearish swings in tandem, flexibly switching between long and short positions. Every trade was based on key support and resistance levels, with short-term profits taken along the way while long-term core positions remained firmly in place.
Short-term consolidation is just a temporary interruption; the long-term bullish outlook remains unchanged. Successful trading is about enduring quiet periods and weathering shakeouts so you can capture the full gains of a market move. We’ll keep to our plan, manage risk, and patiently await the next rally.$XAU #XAU
Markets were volatile this week, with the U.S. jobs report taking center stage. Price action was repeatedly shaken out by sharp wicks, but I held firmly to the main directional view throughout. When prices had already fallen to around 3,870 and fear was spreading across the market, with sentiment overwhelmingly bearish, I firmly laid out my long-term bullish outlook. I pointed out that this was merely a major shakeout, not a trend reversal, and provided a tiered plan for entering positions, guiding everyone to build long-term core holdings at lower levels.
Gold then began its upward move as expected, steadily reaching the first target at 4,030 and climbing as high as 4,146. Along the way, I repeatedly reminded everyone that resistance lay around 4,050 and 4,140. Those with larger positions could take profits in stages to lock in gains, while keeping a breakeven stop on their remaining long-term positions and holding for the ultimate target of 4,180. I also repeatedly warned against blindly chasing prices at highs; anyone looking to enter should patiently wait for a pullback.
After the U.S. jobs report was released, even though the data leaned bearish, prices quickly recovered after dipping. Buying support below remained strong, and the bullish structure was not broken. I managed short-term bullish and bearish swings in tandem, flexibly switching between long and short positions. Every trade was based on key support and resistance levels, with short-term profits taken along the way while long-term core positions remained firmly in place.
Short-term consolidation is just a temporary interruption; the long-term bullish outlook remains unchanged. Successful trading is about enduring quiet periods and weathering shakeouts so you can capture the full gains of a market move. We’ll keep to our plan, manage risk, and patiently await the next rally.$XAU #XAU
