XAUUSD: Perfect profit from the expected fall

✅Today, gold fell to the 2600 mark as expected during the US trading session. The bearish-dominated market structure further verified the correctness of the bearish thinking. From the current trend, the high point continues to move down, indicating that the bearish force still occupies a dominant position. The overall trend of the daily and weekly lines is obviously bearish, and the MA5 and MA10 weekly moving averages form a dead cross suppression, indicating that the market is still in a bearish trend.

✅On the short-term 1-hour chart, although gold is in a large range of fluctuations, the rebound high point is gradually reduced, and the price has fallen below the low point of last Friday, further confirming the short advantage. It should be noted that the overall market structure has not yet shown a significant reversal. The current rebound is only regarded as a technical adjustment, and the rebound is a good opportunity to short at a high level.

🔴Upper resistance level: 2610-2613 range. If the rebound reaches this range and encounters resistance, you can choose to arrange a short position.
🟢Lower support level: 2580-2583 range. If the gold price effectively falls below the 2600 mark, the bearish momentum may be further released, and the price is expected to accelerate downward to the 2580 line.

✅Intraday Trading strategy:
🔶GOLD BUY: 2583-2585
🔰TP1: 2595
🔰TP2: 2600
🔰TP3: 2610 OPEN~

🔶GOLD SELL: 2608-2610
🔰TP1: 2600
🔰TP2: 2590
🔰TP3: 2585 OPEN~

🔖In the ever-changing gold trading market, many traders often feel overwhelmed and unsure of what to do next after the price breaks through key resistance and support levels. I am here to provide you with real-time guidance services to help you grasp every important market trend, whether it is to deal with trend breakthroughs or adjust trading strategies. I will accompany you at every critical moment, provide professional advice and support, and make your trading more secure🤝