Jin Chen Yu Jin | Volatility pattern, using stability to handle change


Gold did not break out of a major downward trend yesterday, still maintaining a range of 4730-4670
Most of the white trading session was around the upper and lower bounds of the range
From the daily chart, although these two days have closed with consecutive down candles, there has been no continuation of breaking the lows
Yesterday's daily chart showed a decline followed by a rebound, indicating that the downward momentum has stalled and shifted to consolidation
Currently, there are no clear signs of a breakout direction on the daily chart, so treat it as a consolidation range for now
Key reference points:
Support levels: 4660-4668/4640/4615-4600
Resistance levels: 4715-4720/4750-4760/4770-4773
Today’s gold:
Rebound near 4715-4720 zone, short at the top, stop-loss at 10
Drop near 4660-4668 zone, long at the bottom, stop-loss at 10
Remember: In a consolidation market, small wins accumulate into big wins $XAU
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