"If gold cannot break through the 3365-3375 area, gold will fall under pressure again, or refresh the recent low of 3341, and continue to the 3335-3325 area." Gold's performance today is completely in line with my expectations. Gold just retreated to a low of around 3320, but soon recovered above 3325, proving that there is strong buying support below.
From the current gold structure, the short-term support below is mainly concentrated in the 3320-3310 area. If gold slows down its downward momentum and its volatility converges when it approaches this area, then after the gold bearish sentiment is vented, a large amount of off-site wait-and-see funds will flow into the gold market to form strong buying support, thereby helping gold regain its bullish trend again, thereby starting a retaliatory rebound, or a technical repair rebound.
Therefore, for short-term trading, I still insist on trying to go long on gold in the 3330-3320 area, first expecting gold to recover some of its lost ground and return to the 3340-3350 area.
From the current gold structure, the short-term support below is mainly concentrated in the 3320-3310 area. If gold slows down its downward momentum and its volatility converges when it approaches this area, then after the gold bearish sentiment is vented, a large amount of off-site wait-and-see funds will flow into the gold market to form strong buying support, thereby helping gold regain its bullish trend again, thereby starting a retaliatory rebound, or a technical repair rebound.
Therefore, for short-term trading, I still insist on trying to go long on gold in the 3330-3320 area, first expecting gold to recover some of its lost ground and return to the 3340-3350 area.
Trade active
We have successfully locked in a profit of 190pips in the short transaction, with a profit of nearly $10K. Currently, gold has retreated to the 3330-3320 area as expected. I have begun to ambush long gold in batches according to the trading plan. I believe it will not be difficult for gold to regain 3340-3350. As long as gold touches this area, we can win at least 200-300pips of profit. Let us look forward to the rebound of gold and bravely ambush long gold in advance!Trade closed: target reached
Bros, gold has been fluctuating in a narrow range around 3340 for a long time. The rebound potential of gold is still weak, and the bulls are not willing to attack. So I have just closed my position manually and lock in profits in time. Under the current weak market conditions, there is no need for us to fight hard for a rebound. We must lock in profits in time to avoid profit-taking due to the decline in gold prices. After we close our positions and lock in profits, the temporary fluctuations of gold have nothing to do with us, and there is no need to regret that we closed our positions too early because gold continues to rebound. After all, the profits have been safely deposited into our accounts. Then I will look for the next suitable entry!
Detailed strategies, accurate signals, considerable profits, Telegram group：t.me/Steffen_S68
Learn detailed trading strategies and get accurate trading signals, Telegram group: t.me/Steffen_S68
Learn detailed trading strategies and get accurate trading signals, Telegram group: t.me/Steffen_S68
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.
Detailed strategies, accurate signals, considerable profits, Telegram group：t.me/Steffen_S68
Learn detailed trading strategies and get accurate trading signals, Telegram group: t.me/Steffen_S68
Learn detailed trading strategies and get accurate trading signals, Telegram group: t.me/Steffen_S68
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.