Gold Spot / U.S. Dollar
Short
Updated

4/22 Gold Trading Strategy

473
Gold continued its upward movement yesterday. Short positions around 3380 yielded limited gains, while those near 3410 are currently underwater. Many traders may be in a similar position, and I want to emphasize: there’s no need to panic—today offers a strong opportunity for the bears.

Technically, gold is now in the final stage of a five-wave upward structure. The bullish momentum is fading. The remaining upside is likely limited to within $50, while the downside potential could exceed $80. In short, there’s an 80%+ chance of a pullback or consolidation today, offering a solid exit or profit opportunity for short positions.

The price is expected to retrace below 3360, and once profit-taking begins, the decline may accelerate.

Trading Strategy for Today:

Sell between 3450–3480

Buy between 3330–3310

Trade flexibly within 3440–3400 / 3410–3355

Note
Entering the bearish zone
Trade active
✅ Current short positions are already in profit. Depending on your risk preference, here are two approaches:

For conservative traders, consider closing all positions now to secure profits.

For those aiming for extended gains, take partial profits and hold the rest, targeting a deeper pullback.
Trade closed: target reached
Yesterday’s short positions delivered a pleasant surprise at today’s market open—they’ve now all been successfully closed in profit!

Gold has dropped nearly $200 from yesterday’s high to now, giving us strong momentum on the downside. But such a sharp decline also creates room for a potential rebound.

Strategy Update:

After such a major drop, a short-term technical bounce is likely

Today’s plan: look for long (buy) setups first

After the rebound, we’ll reassess and adjust the strategy accordingly

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