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6. Friday, December 12th, how will the high-level consolidation period of gold be broken?
Last night’s gold rebound was really well caught!
Entered a long position directly at 4080 (2 lots), and the subsequent trend completely matched the prediction, oscillating upward all the way, finally exiting perfectly at 4153. This wave not only verified the correctness of the strategy but also securely harvested a big profit of 73 points!
Current market update (around 4191):
After the previous violent surge, gold price has entered a “high-level consolidation mode.”
Technical pattern: The 1-hour Bollinger Bands are opening upward, but the price is a bit far from the moving average, indicating a short-term need for correction.
Key levels: Watch the support zone at 4120-4150 (also near the middle band), and defend the resistance zone at 4246-4255 above.
What’s the outlook?
The current market feels a bit “caught between a rock and a hard place.”
Fundamentally, the Fed’s rate cut expectations have cooled down (bearish), but geopolitical tensions are very chaotic (bullish), causing a fierce tug-of-war between bulls and bears.
In the short term, I lean more towards the idea that the price will oscillate within the 4120-4250 range, trading sideways to buy time and space.
Next trading ideas:
Main strategy (buy low): Don’t chase the high! Be patient and wait for a pullback to the 4120-4150 zone, and consider entering long positions when signs of stabilization appear (like a hammer candlestick), with a stop loss below 4100, targeting above 4230.
Secondary strategy (sell high): If the rally stalls around 4245-4255, try a small short position, quick in and out, as this is a high-level consolidation.
Risk control first: Recent volatility is huge, with swings of dozens to hundreds of points. Keep positions light and always set stop losses! Better to miss out than to make mistakes.
Market changes rapidly; everyone should control their speed and position sizes!
(Just personal review notes, not investment advice. Trade at your own risk!)