Technical analysis:
Gold has risen sharply and has broken through the resistance areas near 3330 and 3355. In the short term, gold has formed an upward force and has a clear willingness to rise. At present, gold bulls still have the potential to continue to test the 3370-3380 area. As gold rises and breaks through, the 3340-3330 area below has become a strong support in the short term; if gold cannot fall below this support area during the retracement, gold may even continue to rise and try to hit the 3405-3415 area.
Trading strategy:
1. Consider going long on gold after gold retreats to the 3340-3330 support area, TP: 3360-3370;
2. Consider going short on gold in small quantities after gold first touches the 3370-3380 area, TP: 3355-3345.
Gold has risen sharply and has broken through the resistance areas near 3330 and 3355. In the short term, gold has formed an upward force and has a clear willingness to rise. At present, gold bulls still have the potential to continue to test the 3370-3380 area. As gold rises and breaks through, the 3340-3330 area below has become a strong support in the short term; if gold cannot fall below this support area during the retracement, gold may even continue to rise and try to hit the 3405-3415 area.
Trading strategy:
1. Consider going long on gold after gold retreats to the 3340-3330 support area, TP: 3360-3370;
2. Consider going short on gold in small quantities after gold first touches the 3370-3380 area, TP: 3355-3345.
Trade active
Gold has arrived at the 3370-3380 area as expected. There is a certain degree of technical resistance in this area, so we can try to short gold in this area as planned. Pay attention to setting SL to protect the account to the greatest extent.Trade closed: target reached
After gold reached the 3370-3380 area as expected, I have executed the short trade as planned according to the trading plan. Although gold has not fallen sharply yet, the upward momentum of gold is gradually weakening. After the stagnation of gold, it is expected to usher in a wave of retracement in the short term. At that time, our gold short position will also make a good profit. Let us look forward to it together!
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.
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.