Due to the ceasefire between India and Pakistan and the easing of the Sino-US trade war, gold opened directly and fell below 3280 and 3260 successively, so the decline of gold will continue.
From the gold hourly chart, the focus below is on the 3200 integer mark. If it falls below 3200 and cannot effectively stabilize, then gold will have a big double top here, and the next decline will extend to around the 3000 integer mark. On the contrary, if the 3200 mark is not broken, then the bulls will fight back, at least they will fill the gap again
So in terms of operation, it is not recommended to chase the short now. If you want to go long on gold, you can wait for it to fall back to the 3200-3210 area and stabilize before buying
From the gold hourly chart, the focus below is on the 3200 integer mark. If it falls below 3200 and cannot effectively stabilize, then gold will have a big double top here, and the next decline will extend to around the 3000 integer mark. On the contrary, if the 3200 mark is not broken, then the bulls will fight back, at least they will fill the gap again
So in terms of operation, it is not recommended to chase the short now. If you want to go long on gold, you can wait for it to fall back to the 3200-3210 area and stabilize before buying
Trade active
Short-term trading ideas: short gold rebounds to 3250 area, stop loss 3260, tp3220Trade closed: target reached
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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.
Related publications
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.