After breaking through the resistance areas near 3335 and 3355, gold continued to rise to around 3379; although the rise in gold was relatively large, after gold touched above 3370, the bullish momentum weakened and there were signs of high-level stagflation, so gold is still expected to usher in a wave of retracement in the short term.
After the sharp rise in gold, the current relatively obvious support area is located in the 3345-3335 area. If gold cannot effectively break through 3380, then gold is expected to retrace to test the support of the 3345-3335 area again.
As the trading strategy shared in my previous opinion, I have shorted gold in batches in the 3370-3380 area as planned. At present, we still hold short positions. Let us look forward to the expected retracement of gold!
GOLD XAUUSD XAUUSD 
DXY
After the sharp rise in gold, the current relatively obvious support area is located in the 3345-3335 area. If gold cannot effectively break through 3380, then gold is expected to retrace to test the support of the 3345-3335 area again.
As the trading strategy shared in my previous opinion, I have shorted gold in batches in the 3370-3380 area as planned. At present, we still hold short positions. Let us look forward to the expected retracement of gold!
GOLD XAUUSD XAUUSD DXY Trade active
I shorted gold at 3375 and 3380 overnight as planned. Gold reached a high of 3392, then fluctuated and fell. It has now fallen to 3363. I have chosen to close the position manually at 3265. The first reason is that the current bullish momentum is still relatively strong and the retracement space may be limited. The second reason is to get the existing profits into my own hands first;Although our short position did not hit TP: 3355 as expected, we still made relatively good profits in the short transaction. Although the waiting time is relatively long, the profit is the best reward for our patience!
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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.