December 15 Trading Plan
01 Gold
#Gold# On Monday, during the Asian session, gold experienced a short-term dip and rebound, directly breaking through the 61.8% level of the drop from early Friday. The extreme position also broke through the early morning high, indicating a strong rebound. The drop early Friday can only be seen as a correction for the bulls and not a signal of a top. Therefore, the plan to adjust positions and exit at 61.8% + early morning rebound high of 4317-22 should be executed; if still holding positions, it’s best to set the stop loss at 4335!
Currently, it is essential to clarify that the situation is not extremely strong, and it should be treated with a fluctuating upward approach!
During the Asian session, #Gold Price# dipped and rebounded. The low point of 4291 is the watershed; above this, it is favorable for the bulls. Currently, the Asian session has not yet stagnated, so we will wait for a stagnation and a pullback to 61.8% to position for the bulls. There’s no way to chase now; the short position overnight was incorrect. The upper resistance levels are 4333 and 4354!
If a 61.8% pullback is not reached, we can only wait for the European session to play out, and then plan for the American session, determining the short position based on the strength of the European session's pullback!
02 Silver
#Silver# The Asian session also faced pressure and declined at the opening, but it has rebounded, and luckily, it reached a low of 61.238. Our idea of going long in the 61.25 area overnight was successfully executed with profit-taking!
The rebound strength of silver during the Asian session is slightly weaker than that of gold, but as we mentioned overnight, silver's daily chart shows an extremely strong single bearish candle. We do not see this as a top but rather as a corrective pullback, so the main idea for silver remains bullish!
The low point of the Asian session's dip and rebound at 61.2 is the daily watershed; above this, buying on dips is still preferred!
The key resistance above is in the 63.0-63.2 area!
【The above is personal opinion for learning reference only. Trade at your own risk】#黄金
