Leng Yijie: On 4.7, gold is moving sideways, and crude oil is actively being bought on dips.

Eliminate fraud and wrongdoing, and let facts speak for themselves. Hi everyone, I am Leng Yijie. (Add: Teacher Leng, share the trading-following approach you have right now immediately)

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Whether you choose to work with me or not doesn’t matter, but you must be responsible for the mistakes in your own choices! The foreign exchange market is a long-term, steady, and profitable investment industry. Please choose cautiously if you don’t understand it very well! Because it can carry you on a boat, and it can also capsize you! It may be a hot potato that ruins your mind and material life; more likely, it may become the fuse that destroys your family. What Yijie wants to emphasize most here is: family first, work second, investment third! Heavy positions, holding positions under pressure, and locking positions. No matter what the situation is, as long as large losses occur, they basically can’t be separated from these three points. After years in this industry, these are all investors’ weak spots. My personal advice is that for every trade you set a stop loss properly; you can’t dismiss it just because of one time—otherwise it can ultimately lead to everything collapsing. Some of the insights I’ve gained over the years, whether you and I are fellow practitioners, or my students, whether you’re telling your story or sharing my experience, none of that is important. What matters is that if you’re able to gain something and feel something from what I’ve talked about, and that it helps you, then that’s what matters. Let’s encourage each other… If you want long-term profitability in trading, you must have a mature trading system. Trading frequently all day long is “order-chasing.” If you spend every day on pins and needles and still can’t make money, then what’s the point—there’s no operational meaning at all! In terms of strategy, it’s recommended to focus mainly on swing trading!

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The gold daily chart has entered a localized consolidation phase. Using the 5420 high as the start of the wave pattern adjustment, a rebound is currently being confirmed. Early last week there was slight pressure around the 0.5 Fibonacci level; this week, watch the strength of resistance near 4750. If the resistance is successfully suppressed, price is likely to transition and fall back, moving around and below this level. Today, the view of the consolidation pattern remains unchanged.

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Gold: 【1】For aggressive traders, short around 4720, with a defense at 4750. Look for 4550-4500 on the downside.

【2】Look for opportunities to buy on dips below.

The crude oil trend is consolidating and moving higher. Oil prices have broken above 110. The price repeatedly passes through the moving average system, and the short-term objective trend shows a consolidation rhythm. From the perspective of primary and secondary timing, crude oil’s high-level minor consolidation is present, while near the direction of the main subjective trend, it moves upward in sync. The MACD indicator is interweaving and running above the zero axis, and bullish momentum still has the advantage. Actively following long positions intraday remains unchanged.

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Crude oil: 【1】Go long at 110.0-110.5, with a defense at 107.30. Targets: 116.0-118.0.

The article above is by financial analyst Leng Yijie