Since the start of the London market, gold has almost maintained a narrow range of fluctuations in the 3390-3385 area. Compared with yesterday, the market is much weaker today, and gold has failed to stabilize at 3400 several times, indicating that the sentiment of cashing out near this area is also very high. From the current gold structure, gold is obviously biased towards a long structure. Since gold broke through 3400, 3375-3365 has become the key support area after the top and bottom conversion in the short term.
However, gold rose strongly yesterday but did not stabilize at 3400. The bullish sentiment may no longer be strong. Moreover, after the accelerated rise in gold, the sustainability was not strong, so gold still needs to retreat in the short term. This is why I insisted on shorting gold again near 3400 yesterday. Therefore, I think gold has not yet retreated to the right level. I will pay attention to the opportunity to go long on gold after it pulls back to the 3375-3365 area.
Gold fell after touching 3400 twice. Whether a short-term effective "M" double top structure has been formed, I think more signals are needed to verify. However, in the short term, it is still under pressure in the 3405-3410 range, so if there is no major positive news, I think gold may maintain a wide range of fluctuations in the 3410-3360 range. Therefore, if gold rises to the 3400-3410 range again, I will continue to try to short gold!
However, gold rose strongly yesterday but did not stabilize at 3400. The bullish sentiment may no longer be strong. Moreover, after the accelerated rise in gold, the sustainability was not strong, so gold still needs to retreat in the short term. This is why I insisted on shorting gold again near 3400 yesterday. Therefore, I think gold has not yet retreated to the right level. I will pay attention to the opportunity to go long on gold after it pulls back to the 3375-3365 area.
Gold fell after touching 3400 twice. Whether a short-term effective "M" double top structure has been formed, I think more signals are needed to verify. However, in the short term, it is still under pressure in the 3405-3410 range, so if there is no major positive news, I think gold may maintain a wide range of fluctuations in the 3410-3360 range. Therefore, if gold rises to the 3400-3410 range again, I will continue to try to short gold!
Trade active
I have shorted gold as planned. Currently, gold continues to rise, but I think there is limited room for continued growth in the short term. We can gradually accumulate our short positions during the gold rebound, and then wait for gold to retreat to the 3400-3390 area.
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
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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.