Gold finally showed signs of retreat. We are still holding a short position near 3400. So far, we have made a profit of 50 pips. However, I will still hold it to see if gold can fall back to the 3385-3375 area as expected. We have completed 2 transactions today, and there is still 1 transaction left to hold.
1. First, we bought gold near 3345 and ended the transaction by hitting TP: 3370, making a profit of 250 pips, with a profit of more than $12K;
2. We shorted gold near 3385 and ended the transaction by hitting SL: 3395, with a loss of 100 pips, a loss of nearly $5K;
3. We are still holding a short gold transaction order near 3400, with a current floating profit of 60 pips and a floating profit of nearly $4K;
The above is the detailed transaction situation today. To be honest, today's rebound strength far exceeded my expectations, and after our first long position hit TP, the market never gave any chance to go long on gold after a pullback, but accelerated to around 3401. But obviously, the accelerated rise of gold is suspected of catching up with the top, and in the short term it faces resistance in the 3405-3410 area, and secondly pressure in the 3420-3425 area. So I don't advocate chasing gold at the moment. On the contrary, I am still actively trying to short gold around 3400, first expecting gold to pull back to the 3385-3375-3365 area.
And I think if gold wants to continue to test the 3405-3415 area, or even sprint to the area around 3425, gold must go through a pullback to increase liquidity to accumulate upward momentum. I think it will at least pull back to the 3385-3375 area.
1. First, we bought gold near 3345 and ended the transaction by hitting TP: 3370, making a profit of 250 pips, with a profit of more than $12K;
2. We shorted gold near 3385 and ended the transaction by hitting SL: 3395, with a loss of 100 pips, a loss of nearly $5K;
3. We are still holding a short gold transaction order near 3400, with a current floating profit of 60 pips and a floating profit of nearly $4K;
The above is the detailed transaction situation today. To be honest, today's rebound strength far exceeded my expectations, and after our first long position hit TP, the market never gave any chance to go long on gold after a pullback, but accelerated to around 3401. But obviously, the accelerated rise of gold is suspected of catching up with the top, and in the short term it faces resistance in the 3405-3410 area, and secondly pressure in the 3420-3425 area. So I don't advocate chasing gold at the moment. On the contrary, I am still actively trying to short gold around 3400, first expecting gold to pull back to the 3385-3375-3365 area.
And I think if gold wants to continue to test the 3405-3415 area, or even sprint to the area around 3425, gold must go through a pullback to increase liquidity to accumulate upward momentum. I think it will at least pull back to the 3385-3375 area.
Trade active
Gold has twice encountered resistance and retreated near 3400. As gold continues to rise, bulls are relatively more cautious. This proves that the current liquidity is insufficient and gold needs to retreat in the short term to increase liquidity and accumulate upward momentum. So we can still wait patiently for gold to retreat to the 3385-3365 area. After gold effectively retreats, we will consider going long on gold!Trade closed: target reached
Bros, after our short position hit SL yesterday, we re-entered the market and shorted gold orders near 3400, which finally ended this morning and successfully hit TP: 3385. So far, all our 3 transactions yesterday have been completed.1. First, we bought gold near 3345, and ended the transaction when it hit TP: 3370, making a profit of 250 pips.
2. We shorted gold near 3385, and ended the transaction when it hit SL: 3395, with a loss of 100 pips;
3. We shorted gold near 3400 for the second time, and just hit TP: 3385 to end the transaction, making a profit of 150pips
Detailed strategies, accurate signals, considerable profits, Telegram group：t.me/Steffen_S68
Learn detailed trading strategies and get accurate trading signals, Telegram group: t.me/Steffen_S68
Learn detailed trading strategies and get accurate trading signals, Telegram group: t.me/Steffen_S68
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.
Detailed strategies, accurate signals, considerable profits, Telegram group：t.me/Steffen_S68
Learn detailed trading strategies and get accurate trading signals, Telegram group: t.me/Steffen_S68
Learn detailed trading strategies and get accurate trading signals, Telegram group: t.me/Steffen_S68
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.