Weekly Gold Price Trend Review (12/22/2024)
12/12 週四在小時圖前頂出現假突破向下後，形成一個大橫行的頂部，
After the downward momentum falls through the previous bottom, the previous bottom of 0.618 is a good entry point. You can try to test the sideways bottom downward.
During the European session on Thursday 19/12, the price fell below the big sideways bottom and then pulled back. The hourly chart shows that the price pulled back to around 0.618 of the obvious band.
There is a false breakthrough on the 1M chart. If you want to trade in the same day, it is a good opportunity to go down in the short term. However, since the price has pulled back quickly from 2582, there is a greater chance of it becoming a shock. So don't set the target too far.
The current price is 2622. The 4H chart shows that the rising section from 14/11 to 23/11 failed to continue, forming a large sideways trend and then breaking down.
The 1H chart shows that after the downward break, there was no rapid upward pull to form a false breakthrough, but an upward shock. The chance of downward continuation has increased. Next week, you can pay attention to the midline of the large horizontal movement at 2664, which is also the decline from 12/12 to 19/12. Around 0.618 of the segment.
If the rising channel is broken directly downward after the market opens on Monday, pay attention to whether the large-scale support of 2532 has momentum to rebound, which may evolve into a larger sideways trend.
K.LAM
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