12/11 Vast Golden Flow: No Surprise in Rate Cuts, Insufficient Momentum

No matter how well you perform, there will always be critics; the number of sleepless nights you’ve spent reviewing and the struggles you’ve endured in risk control are of no concern to outsiders — they only focus on the profit and loss figures in your account.

People's thoughts are inherently different, and expecting everyone to agree with you is merely putting shackles on yourself. The trading market is especially harsh, it never shows sympathy to the weak, and tears are worthless here.

Eagles soar high, not relying on applause; grass grows vigorously without special care; wildflowers bloom beautifully, indifferent to whether anyone appreciates them. In trading, one must possess this self-assured confidence and perseverance.

Let’s talk about yesterday’s (December 10, Wednesday) gold market. In the early session, it rose to around 4219 but couldn't go higher, starting to fluctuate downwards, with the European session dropping to around 4187 before stabilizing. Late at night, when the Federal Reserve's interest rate decision was announced, gold experienced a rollercoaster — first rising, then falling, and then rising again, dipping to 4182 at the lowest and peaking around 4239, finally closing with a bullish daily candlestick.

This time, the Federal Reserve's actions completely met market expectations, lowering the federal funds rate by 25 basis points, with the current rate range at 3.50%-3.75%.

From a technical perspective, the short-term 5-day and 10-day moving averages have crossed positively and are slightly tilting upwards, which is a relatively strong signal. Next, we need to closely monitor the support level where these two moving averages intersect, roughly around the point of 4210. If the gold price can consistently hold above 4210, it is likely to maintain a strong upward trend; however, if it breaks below this support level, it will likely remain in a range-bound pattern.

The upper pressure is at the previous high of 4265; if this level can be broken, the upward trend is likely to continue; but if it cannot break through, it still needs to be treated as a fluctuating market.

Currently, the market is still operating within a converging range. In terms of trading, at the current price of 4245-46, go short directly, with a stop loss at 4256, and a target of 4220-4200$BTC #比特币VS代币化黄金