Gold drops over $100 at opening! Speculators onslaught

Gold drops over $100 at opening! The bear attacks violently, what happens next!

Good morning everyone! Another eventful week! 😱 Gold opened sharply lower today, falling by more than $100, hitting a low of $4,644! Honestly, it was like a sudden meltdown. You all know the reasons – negotiations failed, tensions escalated, oil prices rose, and gold became a huge source of profit 💸.

Yes, you read that right: Buy gold as a safe haven? forget it.

The current logic is simple – inflation expectations rise → gold prices fall. As long as this continues, gold will continue to move in the opposite direction to oil prices 🏃‍♂️💨

📈 Technical Analysis: The emergence of a price gap. Is the rebound a trap or an opportunity for bulls?

From a technical analysis perspective:

The 4-hour chart confirms the head and shoulders pattern, and the neckline of 4730 has been broken downward by the short jump! 🪦The price of gold is currently fluctuating above 4650, and there is an obvious gap on the daily chart.

Indicators: Both KDJ and the Relative Strength Index (RSI) diverged in the overbought zone, indicating a strong need for price adjustment.

👉My opinion: There will be a short-term rebound, but there will not be a reversal!

There are two main rebound areas to focus on:

1️⃣ 4730-4740 — First resistance zone

2️⃣ 4758-4760——Strong resistance in the middle line

Don’t be in a hurry to sell. This morning, price fell directly to levels close to yearly support on the hourly chart; selling at this point is like chasing the bottom. Wait for the rebound, wait for the rebound, wait for the rebound! I repeated it three times because of its importance.

🎯Today’s Trading Strategy (April 13)
The main idea: sell high, open a short position at a higher level, and set a clear stop loss order!

Short selling strategy (recommended):

📉Strategy 1: Sell gold in batches near the 4730-4740 mark during the rebound.

Stop loss: 4760 (daily chart support)

Target: 4650→4600→4550

⚠️Note: If the rebound is stronger than expected, do not hold a position. Stop loss is the minimum stay!

Procurement strategy (supplement):

📈Strategy 2: Try to open a small buy position when the 4600-4610 level is first touched.

Stop loss: below 4580

Target: 4680-4700 (quick in and out of short-term rebound)

The current market is not experiencing a sharp unilateral decline, but a gradual decline, accompanied by the stabilization and adjustment of indicators. Don’t try to make huge profits overnight. Control the size of the position, strictly abide by the stop loss order, and it is strictly forbidden to hold a losing position! 🚫

💬Personal opinion
Honestly, this type of market is exciting, but actual trading requires a lot of patience and discipline. Don’t get carried away by the highs and don’t try to buy the dips – I wish this advice was on every trading screen now! 🖥️

Gold has entered a stage of stabilizing at a high level, with increased volatility, implying the risk of a sharp sell-off. If you are still holding a losing position and hoping for a trend reversal, the market is about to teach you a harsh lesson. 📉

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