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First: Review of major markets
Impact of non-farm payrolls data: The U.S. non-farm payrolls data released on Tuesday (December 16) was mixed, temporarily pushing gold prices above 4,330, and then falling back, keeping gold prices within a wider range of fluctuations.
Confirm the effectiveness of the previous strategy: The strategy successfully monitored the “up and down” pattern, and the cooperative client made a profit of 490 points.
Current focus: The market is waiting for U.S. CPI data on Thursday (December 18) to look for potential directional breakthroughs.
Second: technical analysis
1. Daily chart
Convergence Zone: Price continues to fluctuate between 4270-4345, candles move along short-term moving averages, and pullbacks are limited.
Key signal: Watch for a possible continuation of the trend after a small breakout.
2. Four-hour chart
Converging Triangle: The lower highs (4353 → 4342) and the higher lows (4257 → 4271) form a Converging Triangle pattern.
Moving average signal: The short-term moving average curves upward slightly, indicating a slight upward trend in the near future.
3. One hour chart
Symmetrical Triangle Formation: Failure to break yesterday’s high/low could lead to the completion of today’s symmetrical triangle, further narrowing the trading range.
Key levels: resistance level 4340, support level 4280.
Third: Trading Methodology
Basic strategy: Trade within a specific price range before a breakout (buy low, sell high), focusing on short-term opportunities.
Basic logic:
← Before the release of major data, the market was cautious and supported trading in a specific price range.
→ Converging triangle patterns require strict stop loss management to avoid breakout risk.
Fourth: Detailed trading plan
Short selling strategy (sell high)
Entry area: 4340-4345 (increasing gradually)
Stop loss: 4355 ($8-10)
Target: 4310-4290, extending to 4280 if a breach occurs
Long term buying strategy (buy on dips)
Entry area: 4280-4285 (gradually increasing)
Stop Loss: 4270 ($8-10)
Target: 4300-4310, extending to 4320 if a breach occurs
Key level summary
Resistance levels: 4330-4340 (short-term), 4345 (range high)
Support levels: 4280 (short term), 4270 (range low)
Breakout signals:
← Breakout 4345: Target 4360-4380
← Breakout Level 4270: Target 4250-4230
Follow the trend and trade with integrity. Remember: Don’t fight the trend. Our partner clients enjoy seamless trade execution – it is at the core of our service. We believe that building collaborative and mutually beneficial relationships is key. By focusing on education, risk management and providing clients with sustainable skills, we strive for mutual success. This philosophy is the basis of our work in finance.
Your Gold Investment Analyst | Committed to disciplined and logical trading
