XAUUSD: Continues To Short After Rebound

✅Today, the price of gold rebounded slightly, but the overall trend has not changed substantially. The current rebound is more of a technical correction than a trend reversal, so it can still be seen as an opportunity to short at highs. Gold fell sharply after coming under pressure at 2622 in the US market last night. The current rebound failed to break through 2622, indicating that the trend has not yet reversed. If the price still cannot stand above 2622 today, the bearish trend will continue to dominate, and the rebound will only provide a better position for subsequent short positions. Overall, after the key support was broken yesterday, although there was a rebound correction during the day, the overall running trajectory is still bearish.

✅The one-hour chart shows that the moving average is arranged in a dead cross, indicating that the bearish trend has not ended. The first pressure level is near 2615, and the second pressure level is near 2620. After gold rebounded to 2618, it obviously encountered selling pressure from above and then began to fall. We have already arranged short orders near 2615, and we can continue to add positions when it rebounds to around 2618-2620

✅Intraday Trading strategy:
🔶GOLD BUY: 2583-2585
🔰TP1: 2595
🔰TP2: 2605
🔰TP3: 2610 OPEN~

🔶GOLD SELL: 2615-2620
🔰TP1: 2600
🔰TP2: 2595
🔰TP3: 2585 OPEN~

✅Gold is still in a bearish pattern. Although the rebound seems strong, the trend has not changed. The rebound is still an opportunity to arrange short orders. In terms of operation, it is recommended to trade strictly according to the resistance and support levels to avoid being confused by the intraday volatility trend.