Yesterday, the gold price rose very strongly, rising by 100$+ in a single day. If you don't forcefully chase the increase, there are basically not many opportunities to enter the market.
Today, gold has been in adjustment after refreshing the historical high of 3357 during the Asian session. I think it is possible to touch the 3300-3310 area in this retracement.
Today is Thursday, and tomorrow is Good Friday and the market will be closed all day, which means that today is the last trading day of the week. In addition, yesterday's surge of $100+, investors holding long positions in gold are likely to take profits and exit today.
Therefore, we cannot be too bullish on gold today. Once the bulls take profits and exit, it is easy to have a large retracement.
In terms of operation, we mainly sell at high positions, and the position can be observed in the 3340-3350 area, with a target of 3300-3310. If 3300-3310 cannot be broken, we can consider whether to intervene in long positions again.
Today, gold has been in adjustment after refreshing the historical high of 3357 during the Asian session. I think it is possible to touch the 3300-3310 area in this retracement.
Today is Thursday, and tomorrow is Good Friday and the market will be closed all day, which means that today is the last trading day of the week. In addition, yesterday's surge of $100+, investors holding long positions in gold are likely to take profits and exit today.
Therefore, we cannot be too bullish on gold today. Once the bulls take profits and exit, it is easy to have a large retracement.
In terms of operation, we mainly sell at high positions, and the position can be observed in the 3340-3350 area, with a target of 3300-3310. If 3300-3310 cannot be broken, we can consider whether to intervene in long positions again.
Trade closed: target reached
Gold is as I expected. It rebounded to 3340 and then fell. We sold here and successfully hit TP3310-3300, congratulations everyone.
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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
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.