GOLD: The 2570-2580 area is likely to be a stage high point
Updated
Gold finally ended the suppression of nearly a month yesterday, breaking through 2530 in one fell swoop, and the latest high reached 2572.
I mentioned in yesterday's article that if gold does not set a new high in the short term, it may go down, but I didn't expect the impact to be so strong, much more violent than I expected.
Yesterday, my Sell position was still held, with a small position at 2543 and an increase at 2550. Now the price has stabilized around 2570. I am going to add a little more, pull the average price appropriately, and continue to hold a bearish view.
In my opinion, it is impossible to keep setting new highs. From the previous high of 2530 to the current 2570, it has risen by more than 40 US dollars after setting a new high.
According to the previous rising pattern, each time the increase is 50$, so we can conclude that the high point of this rise is likely to be in the 2570-2580 area.
Therefore, we don’t have to worry too much about the short orders we hold. The price of gold is likely to start falling from the 2570-2580 area.
Next, I will continue to update my ideas in my channel for your reference. If you have any ideas, you can ask me directly.
I mentioned in yesterday's article that if gold does not set a new high in the short term, it may go down, but I didn't expect the impact to be so strong, much more violent than I expected.
Yesterday, my Sell position was still held, with a small position at 2543 and an increase at 2550. Now the price has stabilized around 2570. I am going to add a little more, pull the average price appropriately, and continue to hold a bearish view.
In my opinion, it is impossible to keep setting new highs. From the previous high of 2530 to the current 2570, it has risen by more than 40 US dollars after setting a new high.
According to the previous rising pattern, each time the increase is 50$, so we can conclude that the high point of this rise is likely to be in the 2570-2580 area.
Therefore, we don’t have to worry too much about the short orders we hold. The price of gold is likely to start falling from the 2570-2580 area.
Next, I will continue to update my ideas in my channel for your reference. If you have any ideas, you can ask me directly.
Trade active
After adding positions, my current average price is 2555, which is 11$ away from the current price of 2566, which is not far away. Moreover, 2555 is already a very high position, so there is nothing to worry about. As long as it falls below 2555, you can start to make a profit. I think the target can be 2540, and then the previous high of 2530.Trade active
The price has already touched 2580. Let’s wait and see whether it will start to fall here.Trade active
At present, the gold price has basically stabilized in the range of 2580-2590. Now the hourly line shows signs of falling, and the overall trend is changing. I still hold short orders and maintain a bearish view.
I will notify you as soon as there are new changes.
Trade active
After a day of fluctuations in the range of 2580-2590, it gradually began to show a downward trend today. It is still necessary for us to persist and continue to maintain
If you want to get my thoughts on gold as soon as possible, welcome to join my channel
📣Free channel: t.me/Antony_TP
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📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
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