$XAU 11.12 Asian Session Gold Strategy $BTC
Yesterday, the overall Asian-session market rebounded, so I followed the trend and entered long positions. The rally lost momentum during the European session and the market weakened, so I promptly switched to a short-selling strategy. During the U.S. session, I focused on the 4033 support level. Once it broke, the bearish move took hold and gold prices continued to fall. In the early hours, I gave an advance warning: if the 4000 level failed, the next target would be 3970. The market played out as forecast, with the low so far reaching 3980. I placed 7 trades in total throughout the day, capturing the full intraday swing. Rather than betting on direction and relying on luck, I assess price levels in advance based on market structure. The approach is disciplined, with a clear rhythm and precise signals.
On the 4-hour chart, the double-top formation was apparent early on. Price tested the 4148 high twice but failed to break through—an unmistakable sign that bullish momentum was fading. It then broke straight through the trendline. This was no longer a simple pullback; funds were actively exiting and sentiment had turned bearish. Price has now fallen below the 0.382 Fibonacci support, indicating that the pullback in this rally may extend further. Don’t mistake this for a short-term dip and buy into it. On the 1-hour chart, the decline hasn’t been a single sharp drop; it has been a stepwise move lower, with each swing reaching a lower level. The occasional bullish candles are merely brief pauses in the decline—there is no sustained buying pressure to push gold higher. In this structure, a rebound is not a reversal signal; it offers a better entry price for short positions. The current strategy is simple: don’t try to call the bottom or chase a rebound. Wait for price to recover to a resistance area, then follow the trend and sell. Trade in line with the prevailing bearish structure. Until clear signs of a bottom emerge, bottom-fishing offers very poor risk-reward.
Thursday morning trading strategy: Sell between 3990 and 4000, targeting 3970; if that level breaks, look for 3930.
Yesterday, the overall Asian-session market rebounded, so I followed the trend and entered long positions. The rally lost momentum during the European session and the market weakened, so I promptly switched to a short-selling strategy. During the U.S. session, I focused on the 4033 support level. Once it broke, the bearish move took hold and gold prices continued to fall. In the early hours, I gave an advance warning: if the 4000 level failed, the next target would be 3970. The market played out as forecast, with the low so far reaching 3980. I placed 7 trades in total throughout the day, capturing the full intraday swing. Rather than betting on direction and relying on luck, I assess price levels in advance based on market structure. The approach is disciplined, with a clear rhythm and precise signals.
On the 4-hour chart, the double-top formation was apparent early on. Price tested the 4148 high twice but failed to break through—an unmistakable sign that bullish momentum was fading. It then broke straight through the trendline. This was no longer a simple pullback; funds were actively exiting and sentiment had turned bearish. Price has now fallen below the 0.382 Fibonacci support, indicating that the pullback in this rally may extend further. Don’t mistake this for a short-term dip and buy into it. On the 1-hour chart, the decline hasn’t been a single sharp drop; it has been a stepwise move lower, with each swing reaching a lower level. The occasional bullish candles are merely brief pauses in the decline—there is no sustained buying pressure to push gold higher. In this structure, a rebound is not a reversal signal; it offers a better entry price for short positions. The current strategy is simple: don’t try to call the bottom or chase a rebound. Wait for price to recover to a resistance area, then follow the trend and sell. Trade in line with the prevailing bearish structure. Until clear signs of a bottom emerge, bottom-fishing offers very poor risk-reward.
Thursday morning trading strategy: Sell between 3990 and 4000, targeting 3970; if that level breaks, look for 3930.
