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5.7 Gold Midday Thoughts
The market has returned to the morning levels, with repeated swings and consolidation at high levels.
Resistance above at 4720, strong resistance at 4750; short-term support below at 4680, strong support at 4660.
Holding the key level without breaking, range-bound oscillation persists; if broken effectively, follow the trend to proceed. The market cycles sideways repeatedly, so there's no need to guess the direction subjectively.
Trading is about patiently waiting for the right opportunity, maintaining rhythm, and avoiding impulsive entries.
Still maintaining the morning range strategy, mainly selling high and buying low.
Trading suggestions:
Partially short at rebounds between 4720-4750, targeting below 4680-4660;
Partially buy on dips at 4650-4660, targeting 4715-4730, with a breakout to the upside. $BTC $XAUT $ETH