XAUUSD: Today will be the last chance to set a new high
Updated
Yesterday we sold at 2525 and closed at 2515. Just now, the gold price rebounded to 2525 again. I notified in the channel that I had done such a transaction again, and now it has been closed with profit. I believe that friends who have followed my trading strategies have made huge profits. Congratulations to everyone.
The 2525-2530 area has not broken for 5 consecutive times, which will obviously have a negative impact on the strength of the bulls.
However, I observed that in the 1H chart, the recent lows of gold prices are constantly moving up, which shows that gold prices are moving upward. Although the highs have been stuck in the 2525-2530 area, the upward movement of the lows indicates that there is already an idea of breaking through the resistance range.
In addition, there are multiple data to be released today, among which the important data PCE price index will be the top priority of the market. Once several of these data are bullish, coupled with the current high global risk aversion, I think gold is likely to break through the resistance.
Therefore, based on the above information, I give the following trading strategy:
Buy bullish when the price falls back to the 2500-2510 area
Or wait for the PCE data to be released and make other plans based on the data performance
I prefer the former because I have a feeling that the gold price will hit a new high today
The 2525-2530 area has not broken for 5 consecutive times, which will obviously have a negative impact on the strength of the bulls.
However, I observed that in the 1H chart, the recent lows of gold prices are constantly moving up, which shows that gold prices are moving upward. Although the highs have been stuck in the 2525-2530 area, the upward movement of the lows indicates that there is already an idea of breaking through the resistance range.
In addition, there are multiple data to be released today, among which the important data PCE price index will be the top priority of the market. Once several of these data are bullish, coupled with the current high global risk aversion, I think gold is likely to break through the resistance.
Therefore, based on the above information, I give the following trading strategy:
Buy bullish when the price falls back to the 2500-2510 area
Or wait for the PCE data to be released and make other plans based on the data performance
I prefer the former because I have a feeling that the gold price will hit a new high today
Trade active
Judging from the support of the trend line, the possibility of a pullback to the 2510-2500 area is not very high. We can place the position around 2515.Trade active
The PCE price index data is consistent with last month. Although it is slightly bullish for gold as expected, it is precisely because the data has not changed and does not meet market expectations that gold will definitely give a correction opportunity. We can consider buying during the correction period.Trade active
Now is the moment of tug-of-war between long and short. The market continues to fluctuate around 2515. Stay patient and continue to wait for gold to rise.Trade closed manually
Brothers, today's trading is painful. We have been profitable in the previous 4 trading days. Today, with many data favorable to gold, gold did not rise but fell, which was beyond my expectation, and the price fell below the strong support of 2500-2505, which is really frustrating.
Trading is like this, there will always be trends that you cannot judge, which is also normal. If you keep making profits, it is not normal.
Fortunately, I still made a lot of profits this week as a whole. However, it is a little more difficult to reach the goal of 100K in one month, but I think there will be no problem in reaching the goal next week.
Okay, this week's trading has ended. We will adjust the status and continue next week. I wish everyone a good weekend and see you next week.
If you want to get my thoughts on gold as soon as possible, welcome to join my channel
📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
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