The previous rising structure of gold was broken, especially yesterday's rapid decline broke through the previous support of 3385. Although it rebounded slightly, it was difficult to change the adjustment. Yesterday's high point of the US market was at 3396-98 US dollars. Today, the adjustment trend continued. The dividing point between long and short is 3395 US dollars today. Before the price reaches here, do not consider long.
Many traders are confused. Why are there longs one day and shorts the next day? In fact, this is the characteristic of the volatile market. Breaking the key position cannot last. No matter what you think about the market, you must pay attention to the current shape changes. In the volatile market, you should consider the market of the day more, not the long-term direction.
From the 1-hour chart, the gold price rebounded near 3390 and shorted, and the profit range is 3370-3350.
The backup strategy is to break through 3400 and go long, and pay attention to 3415-3425 on the upside.
In other words, look for opportunities to short on a rebound below 3400 today, and adjust your thinking after breaking through the key resistance.
Many traders are confused. Why are there longs one day and shorts the next day? In fact, this is the characteristic of the volatile market. Breaking the key position cannot last. No matter what you think about the market, you must pay attention to the current shape changes. In the volatile market, you should consider the market of the day more, not the long-term direction.
From the 1-hour chart, the gold price rebounded near 3390 and shorted, and the profit range is 3370-3350.
The backup strategy is to break through 3400 and go long, and pay attention to 3415-3425 on the upside.
In other words, look for opportunities to short on a rebound below 3400 today, and adjust your thinking after breaking through the key resistance.
A qualified analyst should have a wolf-like sense of smell and seize every opportunity to make a profit in the market fluctuations. And I am doing this.
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.
A qualified analyst should have a wolf-like sense of smell and seize every opportunity to make a profit in the market fluctuations. And I am doing this.
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.