Gold bides its time. Bulls are suppressed at high levels?

Gold is waiting for the Fed's interest rate decision.

analysis in Asian time period:

Gold opened with a sharp drop due to international news, and continued to fluctuate at a high level in the 3360-3400 range predicted by Quaid. I predicted in the early Asian session that the price of gold would rise to around 3390 and then fall back to around 3370-3360. And its trend is just as Quaid predicted and analyzed, with a correction after the predicted high point.

Now it seems that gold has fallen into a high-level fluctuation range after a sharp drop in the early Asian session, which is in line with my expectations. Quaid believes that the trend direction of the European session is very important. The current upward suppression range is between 3400-3415, and the downward support level is between 3360-3370;

On the contrary, if the European session falls below the downward support range, it may continue to fall.

But Quaid believes that the overall upward trend of gold prices has not changed. Gold prices are just accumulating strength now, and will continue to rise after the adjustment.

Overall trend analysis:

Quaid recommends that the long strategy is still the main one. If the support range of 3360-3370 can resist the downward trend, then we can still carry out the long strategy after the price falls back.

Operation strategy:

Long strategy: Go long when the price falls back to 3365, stop loss 3350, take profit range 3400-3415.

Short strategy: Go short at 3395, stop loss 3405, take profit 3360.