1. The current recommendation is to long on$XAU (gold), as the US dollar index (DXY) weakened after encountering resistance, and gold returned to the key $5,000 level, confirming the inverse correlation. The current pullback is considered a technical correction, not a trend reversal. Maintain a bullish outlook, but be wary of potential turning points due to changes in the US dollar's performance. 2. Position and Risk Management Recommendations: It is recommended to maintain a structurally long position. Pullbacks can be seen as buying opportunities, suitable for gradual accumulation. Pay close attention to the continued pressure on the US dollar index. If the DXY rebounds and breaks through the resistance level, it is necessary to quickly take profits or reduce positions to protect profits. There is no clear short-term profit-taking point; it is recommended to use $5000 as a key support level for reference. 3. Suitable for conservative, medium- to long-term trend investing, based on the macroeconomic catalyst of continued pressure on the US dollar index. It employs a non-aggressive, quick-in-quick-out strategy, emphasizing patient holding, utilizing pullbacks to buy, being wary of risks from sudden changes in the dollar's trend, and avoiding overtrading.
XAU: Summary of Binance Killers Community Discussion (05:00:10 ~ 06:00:10)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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