Technical aspects:
Gold has failed to make a major breakthrough in the recent rebound process, and the rebound height has been limited to a smaller and smaller level. Overall, gold is now in a state of shock and short position; as the center of gravity of gold shifts downward, the current short-term resistance is in the 3220-3230 area; and gold has tested downward many times recently, which makes it easier for gold to fall below 3200. Once gold falls below 3200 again, it is very likely to extend to 3190, or even around 3160.
Trading strategy:
Consider starting to short gold in batches in the 3220-3230 area, TP: 3205-3195
Gold has failed to make a major breakthrough in the recent rebound process, and the rebound height has been limited to a smaller and smaller level. Overall, gold is now in a state of shock and short position; as the center of gravity of gold shifts downward, the current short-term resistance is in the 3220-3230 area; and gold has tested downward many times recently, which makes it easier for gold to fall below 3200. Once gold falls below 3200 again, it is very likely to extend to 3190, or even around 3160.
Trading strategy:
Consider starting to short gold in batches in the 3220-3230 area, TP: 3205-3195
Trade active
Although gold has just rebounded sharply, it still stopped below 3240 and still has not made a major breakthrough. The rebound of gold may be a trap for bulls. Gold will continue to retreat. I have continued to add positions to short gold. Let us continue to hold the short position of gold and wait patiently for the arrival of profits.Trade closed: stop reached
When gold touched 3250 and then fell back to 3233, I chose to manually stop loss near 3236, but because gold fell back near 3250, I didn’t dare to chase long gold. Now I am on the sidelines.
Traders who do not aim at profit are not qualified traders. Maintain a trading win rate of more than 85% and pursue the annual profit target: more than $600K! Witness Free Telegram Group: t.me/Steffen_S68
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.
Traders who do not aim at profit are not qualified traders. Maintain a trading win rate of more than 85% and pursue the annual profit target: more than $600K! Witness Free Telegram Group: t.me/Steffen_S68
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.