3.30 Gold rebounds and correction completed, short positions entered during the European session

On the four-hour chart, gold is currently oscillating at a high level in the 4500–4550 range. The bulls are still dominant but momentum is slowing. The MACD green bars below the zero line are converging, showing a bullish divergence, indicating weakening bearish momentum. RSI is relatively strong but not overbought. The MA5/10/20 moving averages remain under pressure and are turning upward. The Bollinger Bands are opening upward, and the price is oscillating near the upper band. Currently, gold is at a high level and needs a correction for a rebound.

On the one-hour chart, MACD has a golden cross with increasing red bars, with higher highs and higher lows, showing a oscillating but slightly bullish pattern. MA5/10 are intertwined, and MA20 is trending upward. The Bollinger Bands are narrowing. The price is between the middle and upper bands. It is currently oscillating with a slight bullish bias, but upward momentum is insufficient. Watch the 4550–4600 USD range above, which is a dense trading zone before a sharp decline. If volume increases and it stabilizes above this zone, it will confirm a double bottom pattern. Otherwise, it remains in range-bound oscillation without change. Therefore, my strategy remains mainly high short positions!

Gold trading strategy: Short in batches at 4550–4560, stop loss at 4580, target 4480–4450

Disclaimer: The above content is for personal ideas and opinions sharing only and does not constitute trading advice.