Although gold has risen sharply to above 3380 due to the intensification of the Russian-Ukrainian conflict, it has not made a substantial breakthrough, and has not stabilized above 3380. The bulls are not determined, which also shows that the technical suppression in the 3290-3295 area above is still strong. If gold does not break through in one fell swoop, gold is likely to usher in a wave of retracement in the short term.
Due to the fundamental impact of tariff issues and geopolitical conflicts, for short-term trading, we should not have too high expectations for the extent of the retracement for the time being, but it is expected to retrace to the 3365-3355 area. In terms of short-term trading, I still hold a short position executed near 3375, and I hope that gold can fall back and hit TP as expected.
Trading strategy:
Consider shorting gold in the 3375-3385 area, TP: 3365-3355
Due to the fundamental impact of tariff issues and geopolitical conflicts, for short-term trading, we should not have too high expectations for the extent of the retracement for the time being, but it is expected to retrace to the 3365-3355 area. In terms of short-term trading, I still hold a short position executed near 3375, and I hope that gold can fall back and hit TP as expected.
Trading strategy:
Consider shorting gold in the 3375-3385 area, TP: 3365-3355
Trade closed: target reached
Yesterday I clearly announced my trading strategy, shorting gold in the 3365-3375 area. According to this trading plan, I issued a VIP trading signal to short gold at 3375 to all VIP members in the VIP group, and set TP: 3345; but with the intensification of the conflict between Russia and Ukraine, gold rose sharply above 3380 in the short term. Then I added the same position near 3385 to continue shorting gold, and changed all TP: 3365.However, gold did not fall as expected yesterday, but gold failed to break through the area near 3385 many times, so I decided to hold the position overnight. Gold fell this morning and fell back to around 3361, and it was obvious that it successfully hit TP: 3365.
Although we may be anxious because of waiting for the market to react during the trading process, our persistence in the end was well rewarded by me tracking the market situation and mastering the trading rhythm. Although gold fell later than expected, our two transactions finally ushered in a profit of 280pips.
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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.