This week, the price of gold continued to hit new highs. As the geopolitical situation may continue to help the price of gold rise, gold closed higher at the end of the day after a sharp drop, and a large positive line was recorded at the weekly level, further indicating that gold bulls are still in the initiative. According to the form, if gold continues to break above the 3,000 level, there is a high probability that there will be a five-wave rise to break through the previous high. The opening strategy considers retreating low and long first.
Plan:
Buy when gold retreats to 3012-3007, target 3037-2047, stop loss around 5 USD