Financial Instruments Business Operator Kanto Finance Bureau Director (Kinsho) No. 1960 / Membership Association Japan Investment Advisers Association Membership No. 012-02323 Go to GogoJungle Home
icon List
ゴゴ太郎
07/20/2026 19:03
Release： 07/20/2026 19:03
Update： 07/20/2026 19:03
ゴゴ太郎
Investment style : Day Trade
Investment career : 5-7 years
Investment amount : 50 million - 100 million JPY
My name is Gogo Taro. I am a part-time trader specializing in GOLD (XAUUSD). While working as a company employee, I have practiced rule-based trading for over five years. In the first few years I moved by emotion and incurred losses, but after I committed to "enter with a basis and protect with rules," the results changed. Every day at lunchtime, I post GOLD market analyses. Instead of difficult theory, I keep it simple with "where to enter today." I strive to make the basis understandable even for beginners. Let's build up trades with solid justification together.
Article cover image

[July 21] "When the basis is thin, take a rest."

After this kind of downward move, you’re probably wondering how far the price might bounce back.
I thought the same thing this morning as well.
To give you the conclusion first: today my answer is “to watch.”

Today's Market Condition

Gold is hovering around $4,002 today. It has fallen from the previous session’s high near $4,041 and has slid to around the previous session’s low near $3,982. The 1-hour EMA20 (short-term moving average) is sloping downward, continuing the downtrend. The RSI (a metric indicating overbought/oversold) is around 44 on the 1-hour chart and around 41 on the 15-minute chart, both below 50. In short, this is a market continuing to test the lower levels.

Gogo Tarō’s View

This article is personal analysis and does not constitute investment advice or solicitation. Please make your own trading decisions.
I view this trend with a somewhat bearish bias. If the 1-hour EMA20 (around $4,009) cannot be pushed above, I think a continued decline is likely. Conversely, if it clearly breaks above that level and reaches the 1-hour EMA75 (around $4,014), I will switch to a view that the downside is likely to be halted.
In the past, I’ve entered trades in low RR zones during such declines, only to have costs from fees and stops accumulate. Now I avoid trades on days where RR doesn’t justify them.

Today’s Reference Line

Today, both pullback-selling and breakout-selling scenarios did not reach the standard RR, so there are no reference entries.
*These are educational reference values. Please make your own actual trading decisions.

Important Lines

Resistance ①: $4,010 (Reason: 1-hour EMA20)
Resistance ②: $4,015 (Reason: 1-hour EMA75)
Resistance ③: $4,040 (Reason: previous day’s high)
Support ①: $3,985 (Reason: previous day’s low)
1-hour EMA200: $4,040 (If this line is surpassed, upward acceleration occurs)


A Word Today

“A bet that’s not worth the risk isn’t a bet at all.”

This article is personal analysis and does not constitute investment advice or solicitation. Please make your own trading decisions.
If this has been helpful, a follow would be appreciated and encouraging.
Feel free to leave questions or impressions in the comments.