Midnight Gold: Downtrend Continues, Bullish Strategy Remains Unchanged

2026.04.22 Wednesday

On the trading journey, patience is more important than frequent trades. Instead of consuming energy in oscillations, it’s better to follow the trend, wait for a definitive signal, and keep each opportunity within the rhythm.

From a technical perspective, the 1-hour gold chart has broken below all short-term moving averages, the Bollinger Bands are opening downward, and the bearish structure has been confirmed. The current price is trading below the middle band of the Bollinger Bands, with MA5/MA10/MA20 moving averages forming resistance through resonance, indicating limited short-term rebound strength.

There are no sudden data releases affecting the market sentiment at the moment, and the market continues to follow the technical bearish trend without clear reversal signals.

In terms of operations, continue to focus on short positions. The key resistance zone is 4740-4745. If the rebound does not break this zone, continue to look for declines; if the price slightly rebounds to 4732-4735, you can also lightly follow short positions, with the stop-loss set above 4750. The first support level is 4715; if broken, look for a move down to the 4700 level. The extreme support zone is 4690-4685. Overall, avoid chasing shorts or taking contrarian long positions; instead, stagger positions at key resistance levels to grasp the rhythm of pullbacks.

Disclaimer: The above strategy is only a personal trading record and does not constitute any investment advice. The market carries risks; trading decisions should be made with risk control in mind.