Both long and short have made profits! Short gold on rallies
Updated
Today’s gold trading conditions are as follows:
1.Xauusd:@2348-2350 Sell, TP:2338 Profit: + $1659
2.Xauusd:@2322-2320 Buy, TP:2335 Profit: + $4179
Around the time when the CPI data was released today, we shorted gold in the 2348-2350 area. When gold hit TP: 2338, I went long gold again in the 2322-2320 area, and gold hit TP again: 2335. Because CPI data will increase market volatility, I used small-scale transactions, so the profit so far is only $5838.
https://www.tradingview.com/x/WuCf4lxb/
CPI data exceeded expectations for three consecutive months, and gold took this opportunity to make a sharp correction. During the correction, gold also fell below the upward trend line many times, with the lowest touching below 2319. Although gold was able to quickly recover part of the decline after falling, it was obviously much weaker than before during the recovery process, and it did not touch the previous high area of 2360-2365 again.
Therefore, according to the current market rhythm, gold has fallen below the rising trend line, which has destroyed the overall rising pattern to a certain extent, and gold will gradually weaken from strength to strength. Therefore, in the following main trading rhythm, I will be more inclined to short gold on rallies; of course, when encountering a strong support structure, I can also flexibly go long gold to strive for rebound profits! At present, the upper side mainly focuses on the 2350-2355 resistance area, and the lower side mainly focuses on the 2316-2314 support area.
I will share detailed trading ideas and trading signals every day to help everyone grasp the rhythm of market trading. If you are currently losing money, I am confident that I can help you turn losses into profits in a short period of time; if you are currently making profits, I am more capable of helping you increase profits. If you want to seize more trading opportunities and profits, you can follow the channel at the bottom of the article to get detailed trading signals and trading strategies in the first time.
1.Xauusd:@2348-2350 Sell, TP:2338 Profit: + $1659
2.Xauusd:@2322-2320 Buy, TP:2335 Profit: + $4179
Around the time when the CPI data was released today, we shorted gold in the 2348-2350 area. When gold hit TP: 2338, I went long gold again in the 2322-2320 area, and gold hit TP again: 2335. Because CPI data will increase market volatility, I used small-scale transactions, so the profit so far is only $5838.
https://www.tradingview.com/x/WuCf4lxb/
CPI data exceeded expectations for three consecutive months, and gold took this opportunity to make a sharp correction. During the correction, gold also fell below the upward trend line many times, with the lowest touching below 2319. Although gold was able to quickly recover part of the decline after falling, it was obviously much weaker than before during the recovery process, and it did not touch the previous high area of 2360-2365 again.
Therefore, according to the current market rhythm, gold has fallen below the rising trend line, which has destroyed the overall rising pattern to a certain extent, and gold will gradually weaken from strength to strength. Therefore, in the following main trading rhythm, I will be more inclined to short gold on rallies; of course, when encountering a strong support structure, I can also flexibly go long gold to strive for rebound profits! At present, the upper side mainly focuses on the 2350-2355 resistance area, and the lower side mainly focuses on the 2316-2314 support area.
I will share detailed trading ideas and trading signals every day to help everyone grasp the rhythm of market trading. If you are currently losing money, I am confident that I can help you turn losses into profits in a short period of time; if you are currently making profits, I am more capable of helping you increase profits. If you want to seize more trading opportunities and profits, you can follow the channel at the bottom of the article to get detailed trading signals and trading strategies in the first time.
Trade active
If gold rebounds again and cannot pass the 2340 mark, then there is a high probability that the market outlook will continue to fall from abc to a five-wave decline.Trade active
If gold rebounds to the 2345-2350 area again, I will short gold in batches firstTrade active
Gold rebounds again, and the opportunity to short gold comes againTrade active
The current short-term support for gold is in the 2220-2215 area. If the defense in this area fails, gold will accelerate its decline.Trade active
Gold is currently trading near 2330. We are still waiting for gold to rebound and short gold again.Trade active
Gold rebounded weakly again, maybe we can consider starting to short gold above 2340Trade active
When there are no good trading opportunities, patience is often the best trading quality. We wait patiently for gold to rebound to the 2340-2345 area before we can consider shorting gold again.Trade active
Gold is currently stuck in a narrow range of 2333-2337. We need to wait for gold to move out of this area before participating in transactions.Trade active
Gold is currently rebounding weakly to above 2340, we can start to consider shorting gold
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