Today, the gold price needs to be alert to fall back to 3080.

Today, the gold price needs to be alert to fall back to 3080.

As shown in the figure:
Four-hour cycle:
The gold price has clearly begun to build a peak.
So at present:
The 3145-3150 area will become an important pressure stage.
The 3115-3110 area will become an important support stage.
From the perspective of structure and selling pressure, once the gold price falls below 3100 points, it is very likely to touch around 3080.
So my strategy is divided into two types:

(1): Try to go long around 3110-3115, stop loss at 3100 (aggressive strategy)

(2): If it falls below 3100, wait for it to stabilize around 3080 and continue to go long, stop loss at 3080 (conservative strategy)

Note: As long as it is above 3080, gold trading will mainly focus on callbacks and go long.