As I mentioned in the last article, Trump’s attitude toward Powell and tariffs underwent a 180-degree change yesterday, which led to a sharp rise in the U.S. dollar index, U.S. stocks, BTC and other assets. This was the main reason for the decline of gold.
At the same time, the demand for safe-haven assets will also drop rapidly as Trump's attitude eases, which will affect investors holding gold to take profits and transfer to other investment products.
Therefore, we just shorted gold near 3340 and successfully reached TP: 3300. The profit margin is 40$.
As it stands, gold is still falling, and the current price has come to around 3280. From the head and shoulders top pattern of the 1H chart, we can draw a conclusion that gold still has room to fall further.
Therefore, we still have to stick to the bearish view and look for suitable Sell opportunities. The target can be seen near the previous high of 3245 and the 3200 integer mark.
At the same time, the demand for safe-haven assets will also drop rapidly as Trump's attitude eases, which will affect investors holding gold to take profits and transfer to other investment products.
Therefore, we just shorted gold near 3340 and successfully reached TP: 3300. The profit margin is 40$.
As it stands, gold is still falling, and the current price has come to around 3280. From the head and shoulders top pattern of the 1H chart, we can draw a conclusion that gold still has room to fall further.
Therefore, we still have to stick to the bearish view and look for suitable Sell opportunities. The target can be seen near the previous high of 3245 and the 3200 integer mark.
Trade active
If the resistance range of 3300-3290 cannot be broken, you can consider selling.Trade closed: target reached
At present, it seems that the 3270-3280 range has strong support, and the possibility of further decline today is not great. Our short positions in the 3300-3290 range can be exited now with profits.
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👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
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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.
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Contact me to copy trading:
t.me/Reliable_Trading1
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.