Today’s Direction Judgment


Today’s gold is still in an overall downward adjustment; the downtrend has not changed.

Trading Logic
In a downward market, follow the logic of “find resistance to enter, find support to exit,” and avoid getting the logic reversed.

Key Levels
Resistance: Focus on the two key resistance levels of 4120 and 4140. When the price is near these levels, you may consider placing short orders.

Watershed: 4180 is yesterday’s retracement high. As long as this level has not been effectively broken, any rebound is still considered a bull trap, and you may continue to consider placing short orders. Only after this level is broken is it possible for a rebound to occur later.

Support: Pay attention to the 4050-4020 range below. If the price pulls back to this area, watch for the effectiveness of support.

Market Rhythm Prediction
If the price does not show a rebound before 10:00 AM today, it will most likely accelerate downward directly. If the Asian session sees a decline and the European session continues the downtrend, even after a rebound in the US session, the price will still face downward pressure.

Risk Warning: The above is only my personal opinion and does not constitute any trading basis. Investing involves risk, so be cautious when entering the market.
$XAUUSD
XAUUSD-1.53%
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