April 17th, gold as expected returns to 4700, the closing operation ideas are here

Gold as expected broke below the 4800 threshold, fully confirming our previous forecast, and the signal for the continuation of the decline is clear. Today we repeatedly emphasized that gold is likely to break below 4800; although the breakdown occurred later than expected, the market ultimately played out as forecasted, and the high-position short positions laid out earlier have already yielded substantial gains.

4-hour trend analysis: The gold price has broken below the MA5/MA10 moving averages, currently trading below MA10 and above MA20. The previous bullish arrangement has been broken, with moving averages shifting from support to short-term resistance. The KDJ indicator lines are operating below 50 in a weak zone, with the J line turning downward, not yet forming a low-level golden cross, indicating that the bearish momentum is still being released; RSI has fallen from the overbought zone to around the 50 neutral line, with buying and selling forces tending toward balance, but no clear bullish reversal signal has appeared yet, and the trend remains bearish.

1-hour trend analysis: The MA5/MA10/MA20 are arranged in a standard bearish order, with prices continuously trading below MA5, forming multiple layers of resistance, making rebounds prone to encountering resistance and falling back. The KDJ indicator's J line has turned upward from a low point, crossing above the K and D lines to form a low-level golden cross, showing some rebound momentum in the short term, but the three lines are still near the 50 neutral line, not entering the overbought zone, indicating that this is only a weak correction and not a trend reversal signal. Focus on resistance around 4830, support at 4760-4750. Overall, the market is in a weak oscillation pattern of retreat from high levels, dominated by bears, and the operation remains mainly to short on rebounds.

Gold trading strategy: During rebounds to 4815-4825, gradually establish short positions, stop loss at 4840, target 4780

If it breaks below the 4780-4770 range, continue to chase shorts, stop loss at 4790, target 4650

Disclaimer: The above content is for sharing personal ideas and opinions only and does not constitute trading advice.