It can be found that PCE data and war risks can no longer make gold prices rise, indicating that the short-selling momentum of gold prices has begun to be released. The so-called rise should be bearish. The short-term trend of gold prices is mainly bearish, but the US data is still very influential. Try to cooperate with the data breakthrough to short. If the Chinese stock market leads to a correction of RMB, it will be unfavorable for gold prices.
The triangle reverses downward and breaks through the structure, with strong short-selling momentum, and the main trend is to follow the short during the day. However, breaking through the previous low requires the cooperation of US data.
Trading strategy (trend following) Follow shorting near 2660 or breaking through 2650
Resistance reference: 2660; 2666 (stop loss)
Support reference: 2650 (take profit & breakthrough); 2640
XAUUSD 1 hour chart
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