The interest rate resolution is coming, two trading strategies
Atualizado
GOLD: Interest rate resolution is looming, which may lead to range-bound fluctuations.
Gold has encountered a dual pressure of declining safe-haven demand and rising US Treasury yields, causing a significant intraday decline, with a meager rebound to close just above the $1940 support level.
Firstly, from a daily chart perspective:
in the 1804-2009 trend, the 618 retracement level is around 1930, which is currently a major support level.
Secondly, the position of the 10-day moving average (MA10) is around 1920, which is also a relatively strong support level.
Therefore, there is a high probability that the support range below gold will exist around 1930-20.
Additionally, we can analyze from an hourly chart perspective:
Since the significant drop from the 2009 high, gold has formed an ABC three-wave pattern.
Therefore, it is possible to have a fourth wave rebound and then experience a fifth wave decline.
Currently, we can see that the bottom of the first wave on the hourly chart is around 1970.
As long as the rebound does not break through 1970, it is sufficient to prove that there will still be new lows in the future.
Therefore, our operations can be divided into two types:
Firstly, wait for the 1920-30 support range to stabilize and enter the long position, aiming for around 1970.
Secondly, if there is a rebound to 1970 but it is not broken, we can enter a short position and continue to look down to the 1920-30 support level.
Gold has encountered a dual pressure of declining safe-haven demand and rising US Treasury yields, causing a significant intraday decline, with a meager rebound to close just above the $1940 support level.
Firstly, from a daily chart perspective:
in the 1804-2009 trend, the 618 retracement level is around 1930, which is currently a major support level.
Secondly, the position of the 10-day moving average (MA10) is around 1920, which is also a relatively strong support level.
Therefore, there is a high probability that the support range below gold will exist around 1930-20.
Additionally, we can analyze from an hourly chart perspective:
Since the significant drop from the 2009 high, gold has formed an ABC three-wave pattern.
Therefore, it is possible to have a fourth wave rebound and then experience a fifth wave decline.
Currently, we can see that the bottom of the first wave on the hourly chart is around 1970.
As long as the rebound does not break through 1970, it is sufficient to prove that there will still be new lows in the future.
Therefore, our operations can be divided into two types:
Firstly, wait for the 1920-30 support range to stabilize and enter the long position, aiming for around 1970.
Secondly, if there is a rebound to 1970 but it is not broken, we can enter a short position and continue to look down to the 1920-30 support level.
Note
Now it is heading towards the resistance level of 1970. Once 1970 cannot be broken through, you can boldly short, and it is likely to fall to a new lowNote
Do not operate until the designated trading point is reached. Only when the designated point is reached can we make a safe profit. We must strictly implement the trading strategy.
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