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Gold’s battle to defend the $4,000 mark
Hello everyone, my name is Katyusha.
Thank you for your attention.
As shown on the 4-hour chart:
Will gold price fall below $4,000 today?
1: If it falls below US$4,000, the price of gold will collapse sharply, and a new round of decline is expected to reach around US$3,800.
2: If the price of gold stabilizes at around $4,000, now is the best time to buy when the price of gold falls.
Which option would you choose?
As an experienced trader, I see the following:
A) Today’s gold price will mainly fluctuate between US$4,000 and US$4,050.
B) The overall trend remains bullish, but the short-term outlook is bearish. Therefore, gold prices may fluctuate between $4,020 and $4,030 tonight.
C) The descent speed is fast and the rise speed is slow. If gold prices continue to fall today, the decline will not be less than $80. However, if the price rises today, it may stabilize near the $4050-4060 level.
Day trading strategies:
Basic Strategy: Short Selling:
Price: $4040-4050
Stop loss: $4065
Take profit: $4020-4000-3990-3950-3900
Secondary Strategy: Short Selling:
Purchase price: $4000-4010
Stop loss: $3990
Take profit: $4040-4050-4060-4080-4100
