Can Gold Hold Above 4170? Market Analysis and Strategy Update

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Review of Last Trading Day's Operations: Why did I predict that gold would encounter resistance and fall in the 4170-4180 range after breaking through the 4150 resistance level?

Gold is not currently in a one-sided upward trend, but rather a slightly stronger consolidation. Excessive gains during the Asian session inevitably led to pullbacks during the European and American sessions. Recent price fluctuations, whether upward or downward, lack sustainability. Therefore, I expected selling after the initial rise.

Secondly, my prediction: I suggested a long entry point in the 4140-4130 range, with a target of around 4160. This was successfully achieved. You can verify the accuracy of my previous posts.

Today's Market Analysis and Strategy: After breaking through to 4173, gold entered a short-term tug-of-war. It's best not to chase the price higher at present! Currently, the accumulation of momentum is insufficient, and a significant upward move is not yet possible. A volatile upward trend is expected, with repeated rallies and pullbacks. We should note that gold has shown clear signs of pullback three times when it touched the 4170 area. Given recent price movements, although gold maintains a generally good upward structure, there is still significant room for pullbacks during the upward movement. Currently, 4168-4178 is a key resistance area and may have become an important defense line in the short term. If gold fails to break through this area effectively, the bears may have a chance to catch their breath after gold exhausts some of its upward momentum. Given that the US market will be on Thanksgiving holiday today, the uncertainty brought by the holiday needs to be carefully considered, and market activity is expected to decrease. Operationally, short positions should be bought in batches at the 4168-78 resistance level.

Only a decisive break above the 4170 trendline resistance level will allow gold to move further upward and usher in a new round of opportunities; otherwise, it will remain in a consolidation phase. Whether it can test 4200 depends on technical and fundamental factors. Support lies at 4120-30. I focus only on short-term trading and clear market analysis. In short-term trading, there is no market that rises or falls forever; there are only correct entry points in the present moment. Find the rhythm and follow the trend. This is the essence of trading.

I update my trading ideas and strategies daily. If you don't yet have a gold trading plan or ideas and are seeking consistent and stable returns, you can find the channel entry point. Let's work together to flexibly and steadily pursue greater profits in the ever-changing market!

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Сделка активна

Our short position, bought at the 4168 resistance level, is currently profitable. We entered at the opening price and it touched a low near 4147, successfully predicting the market movement once again. A great day starts with a profit! All of this was accomplished in full view of everyone. If you need precise real-time trading signals, please contact me.

Notice: Our long position entry point is again at 4130-40; you can buy in batches.

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Сделка закрыта: достигнута тейк-профит цена

Due to Thanksgiving, the overall intraday volatility on gold was not significant, with mainly oscillating movements within the range of 4145-67. The intraday performance also met my expectations, with a slight bearish pressure that might lead to a small decline. The US market closes early, and if there are no unexpected events, the volatility could be even smaller. There is upward pressure above the 4168-78 area, and only by breaking through this area can upward momentum be created. Gold is supported strongly at the 4140 area today, rebounding multiple times after support. Gold is currently in a volatile market waiting for an uptrend, but overall, it remains strong. After consolidating, gold is expected to continue rising. For short-term trading, continue to buy below 4145-50.

In fact, operating in small price ranges with short-term trading can be more profitable. The overall price fluctuations today were not significant, with only four transaction orders executed. Although the volume was small, both long and short positions made profits from intraday trading within today's range. Everyone knows that we will update our strategies in the channel every trading day. Due to channel latency, if you do not have a gold trading plan or strategy and are seeking continuous and stable returns, you can contact me as a member to receive real-time trading signals