The 100-day moving average is upward, and the bullish momentum is strong. However, the decline in metal commodity prices or the rebound in US stocks may cause a sharp drop in gold prices
. Therefore, the trading strategy for gold prices
is mainly based on breakthroughs and shorts. The gold price
may return to the low point when the non-agricultural data was released. Since it is a reverse transaction, a stop loss needs to be set.
Short-term trading strategy: (mean reversion) break through 2685 and then short
Resistance reference: 2700 (breakthrough stop loss)
Support reference: 2685 (breakthrough); 2660-2670
XAUUSD 15-minute chart
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