I'm sorry, I didn't have time to share my trading strategy with you yesterday because of some personal matters, and I didn't execute any transactions.
As expected yesterday, the Fed cut interest rates by 25 basis points, which is fully in line with market expectations and also in line with my previous personal predictions.
We all know that interest rate cuts are good for gold, but because it is in line with market expectations, this impact has been digested in advance, so the impact on gold is not rising but falling.
I personally think that this week is likely to be a rhythm of falling first and then rising. 2580 is not far from the low point. This is likely to be the low point of this week. Continuing to fall can only be next week.
In the next two days, I will buy at a low level and look bullish. The main resistance above is at 2650. If it can stand firm at 2650 in these two days, it can go up to 2680-2700.
As expected yesterday, the Fed cut interest rates by 25 basis points, which is fully in line with market expectations and also in line with my previous personal predictions.
We all know that interest rate cuts are good for gold, but because it is in line with market expectations, this impact has been digested in advance, so the impact on gold is not rising but falling.
I personally think that this week is likely to be a rhythm of falling first and then rising. 2580 is not far from the low point. This is likely to be the low point of this week. Continuing to fall can only be next week.
In the next two days, I will buy at a low level and look bullish. The main resistance above is at 2650. If it can stand firm at 2650 in these two days, it can go up to 2680-2700.
Trade active
Gold prices fell back to near the trend line as expectedTrade closed: target reached
Yesterday I said that this week will be a rhythm of falling first and then rising. The low point of gold price has been determined with a high probability. It is unlikely to continue to fall. If it falls, it will only be next week.
I also made it clear that I will buy at a low level in the last two days of this week. I bought near 2588 during the correction of gold price yesterday. Now gold price has come to the high point of yesterday's rebound near 2622. There may be some resistance here. I am ready to take profits here, put the money in the bag and lock in the profits.
Friends who copied my trading have made a lot of money. Congratulations!
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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.