Gold is accelerating sharply higher after breaking through the 5111 level. If you try to bet on a pullback, it becomes difficult to follow the trend, which is why we emphasize trading only a single signal. We have consistently stressed not to guess the top when going long and to refuse participating in any form of short positions. The reasoning is simple: only by following the trend, knowing what trades to take and what to avoid, participating only in the market moves you understand, trading within your expectations, can you earn money based on your knowledge. Otherwise, money made by luck will surely be lost, principal and interest included, by your own shortcomings.
Yesterday's view was very clear: as long as the price held above the low of 4990, we needed to continue looking for higher prices. We emphasized not to expect a deep correction for an entry opportunity; one should go long around the minor support at 5050. The day's rally was the best proof for the bulls. Especially after the U.S. session pullback to 5047 quickly rebounded, the next step was absolutely to go long. This was the long entry level for the day, anticipating a breakout overnight. The final result was a 100-dollar surge in just two hours—isn't that both疯狂 and familiar?
I mentioned yesterday that there's not much to analyze about gold right now; the outlook is simply bullish. I emphasized the opportunity for a 'dip-buying' scenario and decisively seized the chance to go long on the pullback. Gold has been疯狂rallying, breaking to new highs. Perhaps the entire world is bullish, and market sentiment is maxed out. I said maintaining caution doesn't mean being timid. Reduce the frequency of long entries, go long after a pullback finds support, go long on breakouts to new highs, and strictly use stop-losses for long positions.
For today's trading, focus on two levels. One is the support near 5111, around the breakout point from the overnight session, which now acts as support (the '顶底转换' level). The other is the low area around 5150, where price consolidated after the accelerated surge following the overnight breakout. Currently, the price is too far from the 5111 level, making its reference value limited. Therefore, for the day, look to buy on dips around the 5150 level. After a retracement and correction during the European/U.S. sessions, look for a secondary opportunity to go long near support. If aggressive, chasing a quick 20-30 dollar move above the 5200 psychological关口 is also feasible, provided risk control is in place. The base volatility is large, testing one's ability to pinpoint entry levels. Combine this with the price action to determine long entries intraday. If the U.S. session breaks the day's highs, consider following up with additional long positions. The market is疯狂; we remain cautious but not timid.
