Enze: Long lower shadow and a bullish day! Gold bulls erupt—intraday pullback to catch the rise plan is ready

Yesterday, gold opened at 4650.9 in the early session, first pulled back to around 4615, and then quickly surged higher to touch 4695.4; afterward, it fell back again, with the day’s lowest point dipping to 4606.4. In the US session, the bulls launched a strong offensive; the price climbed in a straight line, topping at 4719 before entering a consolidation range. In the end, the daily candlestick closed at 4706.5, printing a long lower shadow big bullish candle, with very strong support strength at the bottom.

With pattern resonance plus this morning’s price action moving higher first, the short-term bullish trend is confirmed. In terms of execution, just wait for the market to pull back and stabilize, then go along with the trend and take long positions in batches.

Trading suggestions:
Prefer pullbacks as the main approach. You may place orders to go long at 4780–4800, add at 4740–4760, set a unified stop loss below 4720, and targets are 4850–4880–4900

Notice:
The above analysis is Enze’s personal analysis. The market changes in an instant; the content is for reference only and does not constitute any investment advice!
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