11.13 Little Yellow Croaker Strategy
Gold plunged sharply yesterday, hitting a new low for the year and breaking below the 3,900 level. The daily chart has posted several large bearish candles in a row, with the moving averages in a bearish alignment. It is now seeing a mild, modest rebound, which is a recovery after the sharp drop—a weak rebound, not a reversal.
On the 1-hour chart, the overall trend continues to move lower, and the bears remain in control. If the rebound meets resistance at 3,920, the downtrend will continue, with another test of support around 3,850. A decisive break below that level would open up further downside.
Trading suggestion: Sell at 3,900–3,920; stop-loss above 3,930; target 3,850 (or 3,800 if support breaks).
(For reference only; actual trading conditions should take precedence.)#XAU $XAU
Gold plunged sharply yesterday, hitting a new low for the year and breaking below the 3,900 level. The daily chart has posted several large bearish candles in a row, with the moving averages in a bearish alignment. It is now seeing a mild, modest rebound, which is a recovery after the sharp drop—a weak rebound, not a reversal.
On the 1-hour chart, the overall trend continues to move lower, and the bears remain in control. If the rebound meets resistance at 3,920, the downtrend will continue, with another test of support around 3,850. A decisive break below that level would open up further downside.
Trading suggestion: Sell at 3,900–3,920; stop-loss above 3,930; target 3,850 (or 3,800 if support breaks).
(For reference only; actual trading conditions should take precedence.)#XAU $XAU
