XAUUSD:Entering the bearish zone, target around 2268
https://www.tradingview.com/x/RjcT6orL/
Gold rose sharply yesterday, breaking through the 2352 resistance in one fell swoop, and is currently located near 2360.
The chart is now entering the triangle consolidation stage. After the price breaks through 2352 and stabilizes above it, the resistance has turned into support. Then in the next consolidation stage, the first support to focus on is the area near 2352. The upper resistance is based on the previous high point, which is located near 2368, 2374, 2379 and 2383 respectively.
Today, we can focus on 2368-2374. If we enter this range, we can sell directly, and the probability of profit is more than 80%.
After the price reached above 2352, my overall trading strategy has changed from long to short, and I will do trend-based medium-term trading, with the target maintained near 2268, just like our previous short target near 2280 and the long target at 2352. It takes a time to complete, so if you want to follow, please be patient!
Gold rose sharply yesterday, breaking through the 2352 resistance in one fell swoop, and is currently located near 2360.
The chart is now entering the triangle consolidation stage. After the price breaks through 2352 and stabilizes above it, the resistance has turned into support. Then in the next consolidation stage, the first support to focus on is the area near 2352. The upper resistance is based on the previous high point, which is located near 2368, 2374, 2379 and 2383 respectively.
Today, we can focus on 2368-2374. If we enter this range, we can sell directly, and the probability of profit is more than 80%.
After the price reached above 2352, my overall trading strategy has changed from long to short, and I will do trend-based medium-term trading, with the target maintained near 2268, just like our previous short target near 2280 and the long target at 2352. It takes a time to complete, so if you want to follow, please be patient!
Trade active
The resistance near 2368 is still quite obvious. Hold short and you will get some profit.Trade active
Today the market fell sharply, and the shorts made perfect profits. Next Monday and Tuesday should be the stage of rebound and repair. If you want to hold positions over the weekend, it is recommended to hold long positions. The rebound should focus on 2342-2348 first, followed by 2352.So far, there are still friends who have reported to me that their accounts have been blown. I hope everyone will take it as a warning and not use the number of lots beyond their ability to trade. At any time, risk management is the first priority.
Everyone enters the market to make money. If you trade with a gambling mentality, then I suggest you go directly to the casino, which is more suitable for you. If you want to trade, don't be lucky. If you are not sure, it is not necessarily a bad thing to stop and take a break. That's all. Whether you can listen to my advice depends on yourself!
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.
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.