The Asian market opened on Monday in perfect agreement with weekend analysis, with prices experiencing resistance at 4275 before correcting. Gold is expected to remain range-bound in the short term, with bulls poised for a correction. The Asian market opened with a continued rebound before a correction, reaching a low of 4220 as an entry point.
Short-term trading should continue within the 4220-4280 range. The recent bullish momentum showed signs of weakness last Friday. With a bullish strategy, wait for a breakout before entering the market.
Based on the 4-hour market, the immediate resistance level is currently at 4280-4290. A breakout is expected at 4315-4325. If bulls fail to achieve a sustained breakout, a period of volatile correction is imminent. Given the market volatility, Quaid recommends caution in chasing orders and patiently waiting for key entry points.
Trading Strategy:
Short with a small position when the price first reaches 4280-4290, with a stop-loss at 4305 and a profit zone at 4220.
Go long on a pullback to 4200-4205, add to your position at 4185-4295, stop loss at 4175, target at 4275-4280-4300.
Starting a new week of trading, for more real-time analysis and strategies, please follow my channel.
Short-term trading should continue within the 4220-4280 range. The recent bullish momentum showed signs of weakness last Friday. With a bullish strategy, wait for a breakout before entering the market.
Based on the 4-hour market, the immediate resistance level is currently at 4280-4290. A breakout is expected at 4315-4325. If bulls fail to achieve a sustained breakout, a period of volatile correction is imminent. Given the market volatility, Quaid recommends caution in chasing orders and patiently waiting for key entry points.
Trading Strategy:
Short with a small position when the price first reaches 4280-4290, with a stop-loss at 4305 and a profit zone at 4220.
Go long on a pullback to 4200-4205, add to your position at 4185-4295, stop loss at 4175, target at 4275-4280-4300.
Starting a new week of trading, for more real-time analysis and strategies, please follow my channel.
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Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.