AntonyTP

Yesterday, Wednesday, the United States released the October "small non-farm" data. The ADP employment in October recorded 233,000, the largest increase since July 2023. These figures are contrary to expectations of economic slowdown after the Boeing employee strike in October and the two brutal hurricanes and attacks on the US East Coast ports. The subsequent release of the US third quarter real GDP annualized growth rate recorded 2.8%, lower than the expected and previous value of 3%. Consumer spending, which accounts for the largest share of economic activity, increased by 3.7%, the largest increase since the beginning of 2023. At the same time, data from the US Bureau of Economic Analysis showed that the initial value of the annualized quarterly rate of the core PCE price index in the third quarter of the United States rose by 2.2%, roughly in line with the Fed's goals. Spot gold continued to hit a record high, hitting the $2,790 mark during the day, but failed to get above this level. From the current point of view, 2,790 is very likely not the high point of gold, but the risk of retracement also needs to be considered. Therefore, we can't blindly be bullish, but need to wait for a retracement before considering buyingThe data just released are bearish for gold. We continue to wait for the range of 2765-2755.

The trend of gold perfectly replicated my idea yesterday. I explained yesterday's trading strategy and future gold price trend very clearly. Yesterday's closing price is very important to the future trend of gold. If the price can close above 2740-2735, the gold price will start to rise. Otherwise, it will continue to adjust if it closes below. Yesterday’s closing price was just above 2740, and today’s opening price continued to rise, with the highest point once again reaching the historical high of 2757. Next, I don’t think gold will directly set a new historical high again, because the monthly NFP data will be released this week. It is unlikely that it will set a new high before the data is released. There is a high probability that it will adjust first and then when the data is released. Refresh the high of 2757. As for today's trading direction, I think it is feasible to choose to short at a high levelThe US house price index data just released is bearish for gold. The current rise in gold prices is very abnormal. I believe it will start to fall soon.

The conflict in the Middle East broke out again over the weekend. Israel attacked Iran's military facilities, which led to a surge in risk aversion over the weekend. However, a different voice appeared in the market. Israel's retaliation against Iran was more like an explanation to the people. Since the attack did not pose a major threat, the market believed that Iran would not respond to it. This also explains why gold opened more than ten dollars lower today, and crude oil opened significantly lower than more than 3 dollars. Let's get back to the point. My opinion on today's gold is that it needs to be observed. Today's closing situation is very important for the future trend of gold. If the gold price can close above 2735-2740 tonight, then the gold price will start to rise. On the contrary, if it closes below 2735-2740, there may be adjustments. For the day, I am more optimistic about buying at low levels and bullishThe low call strategy is very correct. We bought during the decline and just took profit at 2742. If you followed this trading strategy, you also made a good profit. Congratulations.The price of gold is now running in a range, and you can consider short-selling above the range.

Yesterday we waited for the gold price to meet resistance at 2740 before selling, and the effect was very good. Today my strategy is still bearish. As long as 2740 is not effectively broken, the bearish view can be maintained. From the 1H chart, after yesterday's failure to break through the 2740 resistance, the bearish pattern of the head and shoulders top has basically formed, and there is no problem with the lowest position of the head and shoulders top pointing below 2700 points. Therefore, even if today's sharp decline in the market after Black Friday is out, I am not surprised. With the formation of a downward trend, the high point is definitely moving down, so today's selling point can be appropriately lowered a little, in the range of 2730-2740, the target is 2715 first, and then 2700 The above is today's trading strategy. Friends who need to copy my detailed signals and real-time operations can contact me, good luck everyone!The gold price has come close to the buying range, and short orders can be entered in batchesYes, gold prices started to fall after hitting the Sell range of 2730-2740The gold price is now testing around 2740 again, and we should pay close attention to the resistance at this level.

Today's trading strategy: The support area of ​​2725-2720 was broken yesterday, and the overall trend of gold prices has been destroyed, so we can no longer maintain a bullish view. From the hourly chart, the current gold price may form a head and shoulders top pattern. If this pattern is confirmed, it will enter a correction cycle. The resistance area we need to pay attention to above is around 2740. As long as this position is not effectively broken, the gold price will start to fall, and it is very likely to test 2700 points.Gold prices began to stop rising near 2740, and we should pay close attention to the resistance at this level.After trying to break through the resistance of 2740, the gold price began to fall. Although the price reached 2743, it was not an effective break. Now the gold price has fallen to 2725, and our short position has made a good profit. Where can the gold price fall next? Is it 2700? We'll wait and see

Yesterday, our strategy of waiting for the 2720-2725 area to stabilize before buying was still correct. Although the gold price hit a low of 2714, it continued to rebound and reached a high of 2738. We bought near 2720 yesterday and have taken profits today. From the 1H chart, we can see that the decline in gold prices yesterday touched the rising trend line of 2715. As time goes by, the price of the trend line will gradually rise. The 2720-2725 area is where the next trend line is located. Therefore, my thinking today will continue to follow yesterday's trading method. If the gold price falls back to the 2720-2725 area again, I will buy long orders again, with the target at 2750.The price of gold has now reached the historical high of 2740 again. Observe the resistance of this line. If it breaks, the price will test 2750. If it fails to break, it may retreat to the 2720-2725 area again.Now the resistance of 2740 has been broken. If nothing unexpected happens, the price of gold will test 2750.The price of gold has finally fallen. Now we need to see the support of 2725-2720. If it can hold, the price of gold may rebound.

Gold prices have continued to rise this year, hitting new highs, even as the U.S. stock market hit a series of record highs. Although the rise of safe-haven assets does not usually follow stocks, due to the demand of central banks and the decline in real interest rates, coupled with the constant geopolitical conflicts, gold has become the best way for investors to invest, which in turn continues to push up gold prices. Judging from the current trend of gold prices, gold has no signs of peaking at all, and the bullish trend is very strong, but at the same time, this moment is the most dangerous. The rise now seems to be completely abnormal. Once a certain opportunity appears, the decline will also be a waterfall. From the 1H chart, we can see that gold does not give a big chance of callback now, which is completely different from the previous rise. This is nothing more than wanting you to keep chasing the rise at a high level. But if you chase the rise like this, it will be very dangerous, and it is easy to chase the rise to the top of the mountain. The 2720 position in the figure is today's opening price. If the gold price can stabilize above 2720-2725, then gold will undoubtedly continue to rise and further hit new highs. But if it falls below 2720 today, then be careful. The gold price may further test the 2700 integer mark. If 2700 falls below, it will be the beginning of a sharp correction. So if you want to participate in the transaction today, you have to look at the situation in the 2720-2725 area. You can buy when the price stabilizes here. Otherwise, I do not recommend other trading positions.

As expected, gold broke through above 2700 points, reaching a new all-time high of 2714, which coincides with our bullish direction during this period. Unfortunately, the price of gold started to rise every time without falling back to the support level, so I missed the rise the day before yesterday and yesterday. Although I missed the profit of this wave of rise, I don’t regret it. The direction and strategy are correct, but the correction of the gold price did not reach my predetermined target. Today I will still resolutely implement my strategy. If it does not pull back to the support position, I will definitely not chase the rise. The higher the price is, the more cautious it should be, because once the correction starts, the decline will be very large. Therefore, don't be carried away by the rising enthusiasm. As Buffett said, I am afraid when others are greedy. Back to the topic, from the combination of the current rise in gold prices and the previous history, I believe that the high point of this rise will be near the 2715-2720 area, so there is not much space above, so don’t blindly chase the rise. But looking at the general direction, I think the rise in gold prices is not over yet, and it needs to retrace before it can continue to rise. For the lower support, we can refer to the two previous highs of 2695-2685 Among them, 2685 is the 0.382 position of the Fibonacci retracement of this rise. If it falls below 2685, the amplitude of the retracement will increase. Combining the above information, I think it is possible to short in the 2715-2720 area and long in the 2695-2685 area today. To prevent accidents, if these two areas are effectively broken, this view can be overturned.The gold price just touched 2720, but did not effectively break through this position. I have already shorted it.

Yesterday, our strategy was to wait for a pullback to the support range before buying. The direction and prediction were very accurate. The gold price pulled back from the initial 2680, the lowest was 2666, and then rose again to the historical high of 2685. Unfortunately, the lowest point of the pullback only reached 2666, which was only 1-2$ away from our buying range of 2665-2660. Therefore, I did not trade yesterday and missed a wave of nearly 20$ of rising profits. Now the gold price is still around 2680, and my view is still bullish, with a target of 2700. But there is indeed a risk of pullback if you chase the rise now. After all, the historical high of 2685 has failed to break twice, and you are not sure whether it will appear for the third time. Therefore, my trading strategy today is still to wait for the pullback to the support range before considering buying. Depending on the situation, the buying range can be adjusted flexibly.Sure enough, there was a correction again. The three US data just released were negative for gold. The price of gold fell from 2688 to 2673. It is still very necessary not to chase the rise.

The trend of gold yesterday and today basically completely verified my trading idea yesterday. When the gold price was still at 2654 yesterday, I clearly said that the high point was definitely not 2666. At the same time, I also said that this high point would most likely break through, and the target could be seen in the 2670-2680 range, and bought at 2650 to make a lot of profit. Now the new high has reached 2682, but it has not stood firm. Yesterday I said that as long as the gold price can stand firm at 2680, it can refresh the historical high of 2685, and look forward to the 2700 integer mark. Today I also maintain this view unchanged. Now the gold price is correcting, I think this is a move to accumulate power to refresh the historical high, so I will look for the right time to buy again next From the Fibonacci retracement indicator of this rise, 2665 is at 0.618, and 2660 is at 0.5, so I think that if it cannot stand firm above 2680, the gold price is likely to fall back to the support range of 2665-2660 again. As long as it reaches this range, it can be bought againGold price just tested the historical high of 2685, but failed to break through. Now it is correcting to 2673. We still insist on waiting for the correction and looking for opportunities to buy.The callback is still going on. Don't rush in now. You can wait and see.The US dollar is very strong now, and gold is likely to pull back again, so I will continue to wait for the support area of ​​2665-2660 before considering whether to buy.