Gold started to fall steadily downward from 1947 in the early morning of last Thursday, and it also started from last Thursday. We repeatedly entered the market around 1930 as a suppression, and shorted at 1929-1930 in the white market last Thursday and 1926-1926 in the evening. 1928 continues to be short. Last Friday, the 1927-1929 area was still short. On Monday this week, 1912-1913 was short and 1915.5 was short. Short selling continued. The price trend is also that the highs continue to move downwards, the lows continue to refresh, and continue to fall to the current decline. Breaking the 1900 mark
The next time is to verify the results!
If gold bulls want to rise, the first problem to solve is the process of suppressing the decline by lowering the high point and refreshing the low point. The rhythm of holding high and breaking low is still continuing. If bulls want to rise again, they must first break this rhythm;
Secondly, it regained its position above the purple trend line 1921-1922, and then broke through and stood above 1930.
This is the key and necessity for gold bulls to regain dominance.
In the midday video analysis, we mentioned the switching of space. The dividing line is located in the 1906 area. This is the support area 1906-1904 that we paid attention to in the previous four trading days. Now it has turned into a resistance area, and the price rebounded to 1904 directly continued to fall below the low, which also shows the importance of this place.
Suppress and continue to maintain the range below to break the low;
Only when you reach the breakthrough point can you switch upward again.
Therefore, today we will focus on the gains and losses in the 1904-1906 area, using this as the dividing line for subsequent market space switching.
Today's idea is to suppress 1906 first to see if it continues to fall below the low, and then focus on the 1891 area to see if the support rebounds. In the morning, it was determined that the resistance will fall under pressure, and there will be no chance for short selling. Then follow the idea Pay attention to the support area below and just go long if the price is low.
Referring to this idea, the following plan is given:
Go long in gold 1894-1893 area, stop loss 1888, target 1903-1906
