Because gold fell back to the expected support area of 3375-3365 first, I just took the opportunity to go long on gold near 3372 and set TP: 3390. Obviously, our long position ended the transaction by hitting TP, and we made a profit of 180pips.
At present, gold continues to rebound to around 3396, and is facing the short-term resistance area of 3395-3405, and the upside may be limited. And I think before the Fed's interest rate decision and Powell's monetary policy conference, gold is likely to maintain a range of fluctuations, and the willingness of both long and short parties to break through may not be strong in the short term. And from the current structure, gold tends to fluctuate downward as a whole.
So for short-term trading, we might as well try to short gold in the resistance area. I think it is still very likely to retreat to at least the 3385-3380 area.
At present, gold continues to rebound to around 3396, and is facing the short-term resistance area of 3395-3405, and the upside may be limited. And I think before the Fed's interest rate decision and Powell's monetary policy conference, gold is likely to maintain a range of fluctuations, and the willingness of both long and short parties to break through may not be strong in the short term. And from the current structure, gold tends to fluctuate downward as a whole.
So for short-term trading, we might as well try to short gold in the resistance area. I think it is still very likely to retreat to at least the 3385-3380 area.
Trade active
Bros, I just woke up and got a surprise.After my long position hit TP: 3390, gold continued to rise and directly faced the short-term resistance area of 3395-3405 that I pointed out. So before going to bed, I notified all members to start shorting gold at 3394, and added the same position to short gold near 3400, and set TP: 3382. After waking up, I found that our short position had hit TP. After the long position hit TP, the reverse short gold hit TP again, which was a very successful short-term transaction. Let’s raise a toast together!
Trade closed: target reached
Today, after our long position near 3372 hit TP:3390 and made a profit of 180pips, we shorted gold near 3394 and 3400 respectively, and also ended the transaction by hitting TP:3382, making a profit of 300pips; according to this trading strategy, friends in the channel today have made a total profit of 480pips in long and short two-way transactions. In the channel, you can receive detailed trading strategies and trading signals at the first time.
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.
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.