Hello everyone. Let's discuss the trend of gold today. If you have other ideas, you can express your different ideas in the comment area. Today, gold continued yesterday's upward trend and set a new record high of 3357!
But we need to be extra careful at present, because tomorrow Friday is closed all day, which means that today Thursday is the last trading day of this week. Currently, long positions in gold are likely to be profit-taking.
Once the long positions are profit-taking, it is easy to have a large retracement, so you must be careful about this and do not buy too much.
From the hourly chart:
Today's high point was 3357 and once retreated to around 3313. It can be found that since it fell below the opening price of 3342, gold has not stood above 3342 again.
This is a strong short-term retracement signal, especially when the long positions are about to be profit-taking.
Moreover, the hourly chart is currently a bit of abc wave retracement. Once it comes down, I think it is not a problem to touch 3300, and it is not ruled out that it will be lower.
At present, the MA10 moving average position below gold is also at 3300-3280.
Therefore, it is not recommended to chase long orders today, and you should be prepared for the possibility of falling to 3300-3280 in advance.
In terms of operation, I suggest that you can maintain the entry and short near 3340, and the target can be 3300-3280.
But we need to be extra careful at present, because tomorrow Friday is closed all day, which means that today Thursday is the last trading day of this week. Currently, long positions in gold are likely to be profit-taking.
Once the long positions are profit-taking, it is easy to have a large retracement, so you must be careful about this and do not buy too much.
From the hourly chart:
Today's high point was 3357 and once retreated to around 3313. It can be found that since it fell below the opening price of 3342, gold has not stood above 3342 again.
This is a strong short-term retracement signal, especially when the long positions are about to be profit-taking.
Moreover, the hourly chart is currently a bit of abc wave retracement. Once it comes down, I think it is not a problem to touch 3300, and it is not ruled out that it will be lower.
At present, the MA10 moving average position below gold is also at 3300-3280.
Therefore, it is not recommended to chase long orders today, and you should be prepared for the possibility of falling to 3300-3280 in advance.
In terms of operation, I suggest that you can maintain the entry and short near 3340, and the target can be 3300-3280.
Trade active
The current trend of gold is exactly the same as my analysis. If you sold gold at 3340, you would have made a good profit nowTrade closed: target reached
The current trend of gold is exactly the same as my analysis. If you sold gold at 3340, you would have made a good profit now.
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Click the link to join the channel and contact me to get more trading signals
t.me/+GY6MI9Bg2zM3ZTA0
t.me/+GY6MI9Bg2zM3ZTA0
t.me/+GY6MI9Bg2zM3ZTA0
t.me/+GY6MI9Bg2zM3ZTA0
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.