【7/27】The strength to wait until it comes together.
On days when the pullback is strong, it’s actually better not to commit to a direction.
It took me some time to realize that as well.
Today I’ll talk about that.
Today's Market Situation
Today’s GOLD is hovering around $4,085. It has moved above the previous day’s high near $4,081 and has rebounded significantly from the recent low range. Looking at the 1-hour EMA (moving average), the short-, medium-, and long-term lines are not aligned, and the pattern does not fit a typical uptrend or downtrend. The RSI (an index indicating overbought/oversold) is around 60 on the 1-hour chart and around 64 on the 15-minute chart. In short, the momentum of the pullback is strong, but the lines have not yet been organized into a clear sequence.
Gogo Taro’s View
This article reflects personal analysis and does not constitute investment advice or solicitation. Please make your trading decisions at your own risk.
Today I think it’s better not to decide the direction yet. If the EMA alignments come together neatly in the shape of “20 > 75 > 200,” I plan to tilt toward a bullish view more strongly. Conversely, if the price continues to extend and breaks toward the previous day’s low, I will shift to viewing it as a sign that the pullback momentum has weakened and reassess.
In my past, even when the line arrangement collapsed like this, I would decide “it’s rebounding, so buy,” and then get caught in a reversal. Now I’ve decided to hold off on judgments until the pattern is clear.
Today’s Reference Line
Today, because the outlook is unsettled, I will refrain from calculating a reference entry. Once the EMA lineup is organized and the direction becomes clear, I will provide the basis for judgment again.
*These are educational reference values. Please make your actual trading decisions yourself.*
Important Lines
Support ①: $4,063 (Reason: 1-hour EMA20)
Support ②: $4,068 (Reason: 1-hour EMA75)
Support ③: $4,080 (Reason: Previous day’s high)
Support ④: $4,020 (Reason: Previous day’s low)
1-hour EMA200: $4,065 (Recognized as a major horizon support)
Today’s Word
“If the pattern isn’t forming, don’t ride it.”
This article reflects personal analysis and does not constitute investment advice or solicitation. Please make your trading decisions at your own risk.
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