Main support level for gold price: 4180-4185

Currently, gold prices are hovering around $4,187 per ounce.

Next step: Bounce back? Or oversold?

We need to clarify the following points:

1. Gold prices rose to around $4180-4185 last week, with $4180 marking the beginning of the upward trend.

2. If the price of gold falls below US$4,180 today, it may enter the oversold area and the decline may exceed US$100.

3. Price fluctuations in the range of 4180-4190 US dollars indicate that the power of bulls and bears has been exhausted. The true meaning of gold price movements can only be revealed through significant increases or decreases in trading volume.

4. The upward momentum has basically been exhausted; the market needs new engines to promote development.

Current purchasing strategy:

Purchase: 4185-4190

Stop loss: 4170

Take profit: 4200-4250

Current sales strategy:

Sales: 4190-4200

Stop loss: 4220

Take profit: 4140-4120-4100-4080

Strategy summary:

Key points:

1: Buying at the lowest price is more cost-effective, while short selling is less cost-effective.

2: Profit ratio: 30% purchase; 70% sales

Many people may find this confusing, but it is just one option. Technical analysis can only help you determine what you are interested in; it cannot predict future results.

What really makes you profitable is your trading plan’s ability to overcome greed and fear and execute it accurately.

Keep doing things that have a high probability of success and will make you money.

As a professional trader, I have a complete trading system.

This is always a deeper analysis of human nature and its choices, rather than a technical analysis.

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