The 4-hour chart of International Gold (XAUUSD), from the point of view of the chart, the price once again staged the "first drop and then rise" market yesterday, the lowest yesterday to 1256, the highest to 1272, the daily line with a longer lower shadow Xiaoyang line.
In the articles of recent days, we mentioned that the price has fallen to a rising wedge, and the target is around 1252. The rapid decline of yesterday made this wedge-shaped break strategy close to take profit. But then the price will return to the high position of 1272 again, which shows that the support below is stronger.
At present, the price has been reported for 4 consecutive days to close the Xiaoyin line or Xiaoyang line, the horizontal arrangement is more obvious, today is the 5th day, the price is likely to have a unilateral choice, that is, the price will go up to a new high, and then go up to 1296; Either the price is broken down and there is a wave of corrections. This is the "big end" mentioned in the title today, that is, the price will be made up and down.
According to the position strategy, the current position is still a short position of gold, with a loss holding, the target is still at 1252.
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