Gold Technical Analysis, February 12

📊The gold daily chart closed with a medium bearish candlestick featuring a long upper shadow, indicating strong selling pressure at higher levels. Today, we will focus on whether this negative line can continue the downward trend. If the price falls further, a periodic high will most likely have been formed. Whether it breaks the high in the future needs to be confirmed by subsequent trends. From the trend structure, the gold price rebounded after stepping back on the four-hour short-term moving average several times in the early stage, and rose again, but the current daily continuous positive structure has been destroyed, and the probability of breaking down has increased. Therefore, before the European session, we need to focus on the gains and losses of the 2880 support.

📊From the 4-hour chart, yesterday's retreat to the middle track of the Bollinger Bands received certain support, rebounded to the 2908 line under pressure, and closed lower at the end of the day, indicating that the short-term bulls are insufficient and the market has entered a high-level shock correction stage. At the same time, with the space retreat, the structure has changed. Combined with the trend of the daily line rushing up and falling back, there is still a lot of room for further adjustment. In addition, the MACD indicator shows a top divergence, indicating that gold has a strong demand for adjustment. Due to the large base of recent fluctuations, the profit space for this round of adjustment may be considerable.

📊In the short term, the gold 1-hour moving average is about to form a death cross. If the death cross is established, gold will fall further. The early rebound to the 2900 line failed to break through the pressure, indicating that short-term bears are still dominant. In terms of trading strategy, we can go short on rallies after rebounding to the 2895-2898 area.

🔴Upper resistance level:
- First: 2898-2900
- Second: 2908-2912
-Third: 2920-2925

🟢Lower support level:
- First: 2882-2880
- Second: 2862-2852
-Third: 2842-2838

✅Yesterday's trading was perfect! We accurately captured the low point of the market, and the long orders almost went all the way from the lowest point to the highest point, steadily reaping a generous profit of nearly 200 pips. This is not only an accurate grasp of the market rhythm, but also a perfect embodiment of strategy execution.

✅During the trading process, we recommend the use of pyramid positions to steadily expand profits, while strictly controlling risks, so that profits can run while keeping funds safe. Today, we will still keep up with the market rhythm during the trading session to ensure that every entry is accurately judged and fully analyzed, and every transaction is done with confidence, striving to maximize every profit and make trading more calm and controllable!