Yesterday, our trading strategy focused on whether the 2950-2955 resistance zone could hold. If it failed to hold, we planned to short gold near that zone, targeting 2940 and 2932. Once gold reached the 2932 target, we planned to re-enter long positions, as 2932 is where the trendline support is located.
As it turned out, gold's price movement yesterday followed the pattern I described in the article: we first shorted at 2955 and then went long at 2932, capturing a solid profit. Congratulations to those who have been following my signals.
Looking at the key levels marked in yesterday’s article, both the 2950-2955 resistance zone and the 2932 support level were once again validated today, with reversals occurring at both of these critical points during the Asian session.
From the trendline analysis, we can see that with each successive higher low, the trendline support has now moved to 2936. Therefore, as long as gold does not fall below the trendline, I believe there is a high probability that gold will make another attempt at a new high today, with the U.S. trading session likely to provide clarity.
Given that the price is now near the trendline, I believe this is a good opportunity to enter before it potentially moves higher.
The strategy is as follows:
Buy: 2936-2940
TP: 2955
TP: 2970
There are many trading opportunities each day, but truly high-certainty opportunities are rare. Our goal is to minimize risk and maximize reward. If you are unable to predict the future price direction within a certain range, then the risk will far outweigh the potential reward.
Opportunities are fleeting. When you hesitate, they slip away. If this leaves you uncertain, you can find my sharing channel at the bottom of the article or contact me for the latest trading insights.
As it turned out, gold's price movement yesterday followed the pattern I described in the article: we first shorted at 2955 and then went long at 2932, capturing a solid profit. Congratulations to those who have been following my signals.
Looking at the key levels marked in yesterday’s article, both the 2950-2955 resistance zone and the 2932 support level were once again validated today, with reversals occurring at both of these critical points during the Asian session.
From the trendline analysis, we can see that with each successive higher low, the trendline support has now moved to 2936. Therefore, as long as gold does not fall below the trendline, I believe there is a high probability that gold will make another attempt at a new high today, with the U.S. trading session likely to provide clarity.
Given that the price is now near the trendline, I believe this is a good opportunity to enter before it potentially moves higher.
The strategy is as follows:
Buy: 2936-2940
TP: 2955
TP: 2970
There are many trading opportunities each day, but truly high-certainty opportunities are rare. Our goal is to minimize risk and maximize reward. If you are unable to predict the future price direction within a certain range, then the risk will far outweigh the potential reward.
Opportunities are fleeting. When you hesitate, they slip away. If this leaves you uncertain, you can find my sharing channel at the bottom of the article or contact me for the latest trading insights.
Trade closed: stop reached
The multiple US data released today are all bearish for gold. Coupled with the release of short-selling power, gold plummeted rapidly, falling from the highest of 2945 to the lowest of 2888 in just 2 hours, a drop of nearly $60, and our gold long signal has undoubtedly stopped loss long ago, which is a pity. It turns out that any analysis is very weak before the data or unexpected events are clear. And this is the charm of trading, you never know what is waiting for you in the future.Now it depends on whether the support below 2880 can be maintained, otherwise the downward space will be further opened. At present, considering the large market volatility and some uncertain factors, we need to be cautious in trading today. If there is a good opportunity to intervene later, I will notify you again.
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊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
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.
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊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
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.