After a sharp decline, gold seems to have insufficient bullish momentum compared to before, but this is only in comparison. In fact, after gold hit the low point near 2957, the low and high points of gold are gradually rising. We can see that the bulls are gradually and implicitly picking up cheap chips.
So now we can't blindly short gold. According to the current gold structure, gold may continue to rebound above 3030, or even around 3050. These two positions will be the target areas for long traders and will also be the entry prices suitable for short traders.
So for short-term trading, I will adjust my trading strategy and plan in time. If gold falls back to the 3000-2990 area, I may first tend to go long on gold!
It must be noted that the current gold price fluctuates frequently and violently, so you must be particularly patient first. Because once there is no good entry price, it is difficult to set the psychological SL, and setting a relatively small SL is easy to be hit in market fluctuations!
The trading strategy verification accuracy rate is more than 90%; one step ahead, exclusive access to trading strategies and real-time trading settings
So now we can't blindly short gold. According to the current gold structure, gold may continue to rebound above 3030, or even around 3050. These two positions will be the target areas for long traders and will also be the entry prices suitable for short traders.
So for short-term trading, I will adjust my trading strategy and plan in time. If gold falls back to the 3000-2990 area, I may first tend to go long on gold!
It must be noted that the current gold price fluctuates frequently and violently, so you must be particularly patient first. Because once there is no good entry price, it is difficult to set the psychological SL, and setting a relatively small SL is easy to be hit in market fluctuations!
The trading strategy verification accuracy rate is more than 90%; one step ahead, exclusive access to trading strategies and real-time trading settings
Trade active
Gold has already built strong support in the 3000-2995 area in the short term, and under the influence of fundamentals, gold should not fall sharply. I think gold has a chance to rebound to the 3040-3050 area after shock repair.The trading strategy verification accuracy rate is more than 90%; one step ahead, exclusive access to trading strategies and real-time trading settings
Trade closed: target reached
The target area of 3040-3050 was arrived as scheduled. Just like my title said, have you become rich by buying gold?The trading strategy verification accuracy rate is more than 90%; one step ahead, exclusive access to trading strategies and real-time trading settings
There are already 1000+ traders making huge profits in the group, and the strategy verification rate is over 90%, so novices can easily make profits! Telegram group: t.me/Marvin_9240
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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.
There are already 1000+ traders making huge profits in the group, and the strategy verification rate is over 90%, so novices can easily make profits! Telegram group: t.me/Marvin_9240
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.