Gold: Forecast and Trading Strategy for Next Week
Updated
In the world of trading, the players control the game, the observers understand the game, and the participants play the game within the game.
What goes up high enough will eventually fall deep enough, and what falls deep enough will eventually rise high enough. This is an eternal logic in financial markets, where the core lies in volatility that creates value and opportunities. Investors and speculators participate only when there is volatility.
The financial market itself does not generate profit, but the speculative price difference of buying low and selling high can produce profit. It is nothing more than buying when someone else sells, or selling when someone else buys. Therefore, to avoid being eliminated, one must understand the game, and to understand the game, one must abide by the market rules.
Looking at the daily chart of gold, the downward wave has ended and the rebound phase has begun. Next week's pressure is concentrated in the daily Bollinger upper band at 1875 and the 1870 moving average area! Moreover, on Friday, the market directly broke through the pressure of 1850, so the trend next week will continue to be bullish. After rising above 1870, consider going short!
There are two possible trends for the next market. The first is to continue the strong upward trend, directly breaking through the pressure of 1875 and testing the previous high position. The second is to maintain the oscillation within the large range of 1870-1800! Looking at the weekly chart, the bullish trend is slightly stronger, but a big oscillation is inevitable after rising to around 1875!
In short, the strategy for next week is to go long first, adjust the mindset according to the trend after the pressure position, and follow my rhythm to continue making profits!
Note
Note
For gold, my strategy remains bullish with a target around 1870. I will continue to update my trading strategy. Thank you for your attention and support!Trade active
Note
Waiting for backtest supportTrade active
Approaching supportTrade active
1847 buyTrade active
Note
The first TP1853 has been completed within the day, and the second TP1857 is approachingTrade active
Back testing around 1845 can increase long positions
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