Gold repeatedly touched around 3375 yesterday and then fell under pressure, proving that there is strong resistance above. Moreover, after gold retreated and touched around 3341 yesterday, it did not recover in time and stand above 3350. It was not until today that it rebounded and touched around 3365. The rebound cycle has been extended to the present, and the rebound strength is not very strong.
Since gold retreated, it has not been able to recover the lost ground in time. Gold is under pressure in the 3360-3370 area in the short term. If gold cannot successfully break through this resistance area during the day, then gold will retreat again, and will refresh the 3341 low again, and continue to the 3335-3325 area.
So for short-term trading, I think we can try to short gold in the 3360-3370 area appropriately, looking at the target area: 3350-3340
Since gold retreated, it has not been able to recover the lost ground in time. Gold is under pressure in the 3360-3370 area in the short term. If gold cannot successfully break through this resistance area during the day, then gold will retreat again, and will refresh the 3341 low again, and continue to the 3335-3325 area.
So for short-term trading, I think we can try to short gold in the 3360-3370 area appropriately, looking at the target area: 3350-3340
Trade active
If the gold bulls were strong enough, they should have stood firm at 3350 or even above 3360 before yesterday's close. However, gold only rebounded above 3360 today. The rebound cycle was actually prolonged, indicating that the bulls were not as strong as the market expected. If gold cannot effectively break through the 3365-3375 area in the short term, gold will be under pressure again and may refresh the recent low of 3314 and continue to the 3335-3325 area.Trade closed: target reached
Bros, today's trading idea is as clear as ever. In the morning, gold reached a high of around 3365, and I also suggested that we could short gold in the 3360-3370 area. After that, gold only reached a high of around 3366 during multiple rebounds. I shorted gold near 3365 and set TP: 3346. We almost caught the highest point of the day to short gold.Although the decline of gold came later than expected, gold began to fall when the CPI data was released, and the current low has reached around 3342. Although the process of waiting for TP was more painful, we finally persisted until the arrival of TP. In fact, while waiting for TP, I wanted to adjust TP to 3341-3340, but after detailed consideration, I gave up this risky move. Even though we only set TP: 3346, we still made a profit of 190pips. A very successful short-term transaction! Let's open the champagne and cheer for ourselves!
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
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
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.