Yesterday, the price of gold continued to fall for the fifth trading day. The market predicts that the incoming US President Trump will adopt a stricter monetary policy and reduce geopolitical risks, causing the price of gold to fall to its lowest level in two months.
According to the trend in the 1H chart, the price of gold is currently in a rebound stage. Although it has fallen back, the risk of rebound after a sharp drop must be noted.
If gold prices test the support area of 2550-2560 again today and do not break, then it is very likely to move towards 2590. Observe the situation of the support area of 2550-2560. If there is no break, you can buy here
According to the trend in the 1H chart, the price of gold is currently in a rebound stage. Although it has fallen back, the risk of rebound after a sharp drop must be noted.
If gold prices test the support area of 2550-2560 again today and do not break, then it is very likely to move towards 2590. Observe the situation of the support area of 2550-2560. If there is no break, you can buy here
Trade active
I bought at 2562 when it fell back just now. Now the gold price is rising very well and I can continue to hold it. However, considering that 2576 is the starting point of the previous fall, there is a certain resistance, so you can observe the resistance here. If it goes up many times, If you can't break through, you can take profits here.Trade closed: target reached
It has successfully reached 2590 and exited with profit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📣More detailed real-time trading strategies will be released in the channel, welcome to join and get them
🟢Join the free Telegram group:
t.me/Reliable_Trading0
🟡Contact me to copy trading:
t.me/Reliable_Trading1
🟢Join the free Telegram group:
t.me/Reliable_Trading0
🟡Contact me to copy trading:
t.me/Reliable_Trading1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.