Gold analysis 4-hour chart#
Current short-term situation
Gold broke the range of the box at its highest levels on the four-hour chart and broke once below an important horizontal line.

This has increased selling pressure, making the market favorable for short-term sales.

On the other hand, long-term forecasts remain bullish, and the short-term moving average still acts as support, so we need to carefully assess how long the downward momentum will last.

Today I will focus on explaining the main points for selling on the rise.

🔴 Resistance line (Sales)
1) Around the 2880 line depending on the conditions (fundamentals)
Fibonacci correction point 23.6% short-term moving average for one hour approaches the intersection point with the short-term downward trend line

➡️ If the short-term moving average on the hourly chart approaches this line and there is suppressed movement, target a sale.
However, since this will involve short selling at low prices, the quantity size will be adjusted to less than half the usual size.

2) Around the 2909 line (guide)
Fibonacci downward trend line 78.6%
Medium-term moving average for one hour

Short-term and medium-term moving average for 4 hours, potential RSI 70 for one hour inverse trend line

➡️ If it is confirmed that the short-term rise has reached the ceiling line near the 2909 line, our target is to enter a sell trade.
If this level is exceeded, the short-term trend may change, so if there is a clear breakout, we will wait and see.

[Points to note]

✅ From now on, we will trade with the goal of obtaining sell points at the hourly chart level, but we will make cautious decisions as we look for a long-term bullish trend.

✅ Do not force entry until entry conditions are met, but target a specific point while checking the short-term movement of the chart.

Best entry points
For sale
Around 2877-2883 targeting 400+ points
Around 2905-2909 targeting 600+ points
Stop loss does not exceed 60 points
Best entry points
For purchase
Around 2817 targeting 500+ points approximately
Around 2805 targeting 700+ points approximately
Stop loss does not exceed 60 points.

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