Is Gold Pulling Back or Remaining Bullish?

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Gold is once again exhibiting a typical bottom-rebound pattern. After falling to a low of around 4181 during the day, it quickly stabilized and began to rebound. Gold's movement during the US trading session was consistent with our predictions, touching 4230 but failing to break through and hold. We once again seized the opportunity, with our short positions yielding substantial profits. We will continue to look for buying opportunities at lower levels. Gold bulls still have the potential for further gains, but this should not be a blind pursuit of the rally. Looking at the 4-hour chart, key resistance levels are at 4230 and 4250, two important resistance areas that bulls must break through. On the downside, the support level at 4180-4170 is our first entry point for long positions, while also paying attention to a break below 4163, which is the core support level in the current structure. As long as this level holds, the bullish momentum will remain intact, and the overall trend will continue to develop upwards within the range. The more thorough the pullback, the clearer the opportunity.

I only focus on short-term trading and clear market analysis. In short-term trading, there is no market that goes up or down forever, only the right entry point at the present moment. Find your rhythm and follow the trend. That's the essence of trading. Currently, you must seize every opportunity to buy on pullbacks. If you're struggling to execute trades precisely, try my method: first test the market with a small position, then add to your position on pullbacks. This way, you won't miss any opportunities. If you need to recover significant losses or obtain precise trading signals, find the channel entry and contact me. Let's work together to flexibly and steadily pursue greater profits in the ever-changing market!

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Perfect! We precisely entered a long position near 4163, and the price rallied again above 4200, resulting in substantial profits. This advice was given with everyone's witnessing, not just empty talk; this trade was truly brilliant.

In today's trading, we strictly adhered to our strategy based on professional analysis, carefully managing the pace. Although the gold price briefly dipped below the key support level of $4200, we maintained unwavering patience and professional technical analysis. Ultimately, the price successfully rebounded to the high point within our pre-set profit-taking range. All operations ultimately achieved the expected profit target, perfectly demonstrating the value of the strategy. If you need to recover significant losses or obtain precise trading signals, please contact me.

Gold is likely to enter a short-term consolidation phase, awaiting data or news to break out of the large range. The current consolidation, coupled with uncertain news, is causing hesitation among both bulls and bears, who are waiting for further market developments. Since gold has entered a consolidation phase, it's best to avoid chasing highs or lows. I believe the overall trend remains strong, with pullbacks serving as a consolidation phase for a healthier upward move. Market conditions are volatile, and we don't blindly bullish or bearish. Given the current lack of a clear one-sided trend, we should follow the market's direction. Key resistance levels to watch are 4240-50, while support levels are 4175-85, with a core support level around 4163. Trading will be narrowed based on the opening price action. Technically, the consolidation suggests a preference for buying on dips, although we will also use shorting rallies to assist in profit-taking. There may be a delay in article updates; please remember to find the channel entry.

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Gold has recently experienced a rapid rebound after testing the bottom. Yesterday, the daily chart for gold closed with a hammer candlestick pattern with an extremely long lower shadow, a crucial signal. From a technical perspective, the appearance of a hammer pattern often indicates strong support below. Combined with the rapid rebound after the price retraced to the upper trendline of the triangle pattern, this suggests strong bullish defensive intent. However, it's worth noting that the recent daily chart shows a doji pattern, indicating intensified competition between bulls and bears, making a one-sided trend unlikely in the short term; range-bound trading is more probable.

The 1-hour moving average for gold is currently flattening. If it starts to turn downwards, gold may begin to weaken. Gold is likely to be trading within a large range in the short term, requiring further market data for guidance. It's best not to chase the price excessively before the interest rate cut is implemented. Gold's rebound is facing pressure. In the Asian session today, we can focus on the 4225-35 resistance level as our first entry point, selling short in batches. Strong resistance is around 4250. On the downside, key support levels to watch are 4195-4205, which are also entry points for long positions. Core support is at 4170-80. The large trading range was analyzed at the open; we will initially operate within a smaller range in the Asian session. This is our current strategy for the Asian session. Today, the ADP non-farm payrolls report will be released, and we need to pay attention to its impact.