Advice on Gold Trading Strategies

Daily Chart Perspective: Just above the MA20, indicating a "key point at the early stage of a rebound," not a strong bullish trend nor a sign of weakness.

• 4-Hour Chart Perspective: Has already pulled back from the high point, with the MACD red histogram shortening, indicating a phase of high-level oscillation and correction.

• Trading Recommendations:

1. Not recommended to chase long positions at the current level; resistance at 4760-4770 is close, making chasing less cost-effective.

2. You can wait and observe, consider entering after the price retests support levels, or wait for a breakout above resistance followed by a pullback confirmation before entering.

Scenario of an Upward Breakout

1. Break through 4760-4770 (the high from 4 hours ago) and stabilize

◦ Indicates the correction at the 4-hour level has ended, bulls are regaining strength, and in the short term, a move toward the daily resistance at 4825-4830 is likely.

◦ Trading reference: After breaking through, a pullback to around 4760 for stabilization is a relatively safe opportunity to add long positions, with a stop loss below 4740.

2. Break through 4825-4830 (the daily MA60) and stabilize

◦ This is a trend breakout at the daily level, indicating the medium-term rebound space has opened, with potential targets in the 4950-5000 range.

◦ Trading reference: After breaking through, a pullback to around 4830 for stabilization and adding longs is advisable, with a stop loss below 4800.

Scenario of a Downward Breakdown

1. Break below 4690-4700 (the daily MA20) and close below

◦ Daily rebound failed, the short-term trend weakens, and a retest of support at 4630-4640 on the 4-hour MA60 is likely.

◦ Trading reference: If it breaks below without a quick recovery, consider reducing or exiting long positions to avoid a deeper correction.

2. Break below 4630-4640 (the 4-hour MA60) and close below

◦ Indicates the upward trend at the 4-hour level has been broken, and the correction space will further expand, likely falling back to the 4550-4600 range.

◦ Trading reference: At this point, mainly observe; wait for a stabilization in the 4550-4600 range before considering low-entry opportunities, with a stop loss below 4530.