Yesterday we were bullish at 3015. After the release of consumer confidence data in the US market, the gold price rose rapidly, reaching the highest level of 3036, and our gold trading also ushered in 7 consecutive wins.
From the 1H chart, we can clearly see that gold has been fluctuating in the range of 3000-3030 recently, but today is Wednesday, which I personally think is a relatively important time node. After the consolidation of the previous two days, there is a high probability that it will break through the 3000-3030 fluctuation range today, and the probability is that it will break upward.
For upward break, the first resistance is 3030, and the second is around 3038. As long as these two points break, gold will return to the bull trend again.
Since it is bullish, we have to consider buying near the lower support. After the verification of the market yesterday and today, the lower support has moved up. I think the 3015-3018 area can be considered for buying, but it is not certain to return here again, so you can adjust the entry point according to your own situation.
If you don’t know where to enter the market, you can come to my group to get accurate trading signals
From the 1H chart, we can clearly see that gold has been fluctuating in the range of 3000-3030 recently, but today is Wednesday, which I personally think is a relatively important time node. After the consolidation of the previous two days, there is a high probability that it will break through the 3000-3030 fluctuation range today, and the probability is that it will break upward.
For upward break, the first resistance is 3030, and the second is around 3038. As long as these two points break, gold will return to the bull trend again.
Since it is bullish, we have to consider buying near the lower support. After the verification of the market yesterday and today, the lower support has moved up. I think the 3015-3018 area can be considered for buying, but it is not certain to return here again, so you can adjust the entry point according to your own situation.
If you don’t know where to enter the market, you can come to my group to get accurate trading signals
Trade active
Gold has rebounded as expected to near the first resistance of 3030. If there is a breakthrough here, we can set the target towards 3038Trade closed: target reached
The long-order strategy is still very correct. The position we bought at the low level has now been closed with profit, and we have won the 8th consecutive victory. There is still resistance near the first resistance of 3030. We can wait for the callback to buy again to see if there is any motivation to break the US market.
If you don’t know where to enter the market, you can come to my group to get accurate trading signs
If you don’t know where to start trading, you can join the channel and get accurate trading signals
👊Join the free Telegram group:
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🏆Contact me to copy trading:
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👊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.
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.