Gold has reached a high of around 3404, so this position can be used as an important pressure point. In this continuous upward trend, once there is a sharp decline, it is likely to be a signal that the short-term bulls have peaked. Then we need to consider whether the bears can reverse, and the current upper pressure point is also the high point of the last wave of pullback near 3393, and the lower support is at 3360.
Trading idea: short near 3387, sl: 3400 tp: 3370
Trading idea: short near 3387, sl: 3400 tp: 3370
Trade active
Gold can still be shorted on ralliesNote
The gold 5-minute chart continues to fall, and our short order has already made some profits.
Note
I will continue to bring the latest trading analysis later. You can check my personal profile and you can keep up with it in time.Trade closed: target reached
Gold continues to fall and is now close to the target level of 3370
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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.