Fundamentals:
Focus on US economic data and Fed dynamics;
Technical aspects:
Gold fell below 3290 as expected, and even fell below 3280 beyond expectations. Our short positions also made a lot of money. At present, gold continues to fall to around 3272. Although the short momentum is relatively obvious, it is already close to the recent low support of 3265-3260. I think that before the NFP market, gold may not form a unilateral downward trend, so there are still repeated ups and downs in the short-term trend. Therefore, when approaching the low support area of 3265-3260, we might as well consider short-term long gold.
Trading strategy:
Consider going long gold in the 3275-3265 area, hoping that gold can rebound to the 3285-3295 area.
Focus on US economic data and Fed dynamics;
Technical aspects:
Gold fell below 3290 as expected, and even fell below 3280 beyond expectations. Our short positions also made a lot of money. At present, gold continues to fall to around 3272. Although the short momentum is relatively obvious, it is already close to the recent low support of 3265-3260. I think that before the NFP market, gold may not form a unilateral downward trend, so there are still repeated ups and downs in the short-term trend. Therefore, when approaching the low support area of 3265-3260, we might as well consider short-term long gold.
Trading strategy:
Consider going long gold in the 3275-3265 area, hoping that gold can rebound to the 3285-3295 area.
Trade active
After I tried to buy gold near 3271.78 according to the trading plan, gold did rise to 3285-3295 as expected. But the damn thing is that I set the TP to: 3290. As a result, gold only touched above 3285, and then gold fell sharply, causing my short position to hit SL: 3260. Unfortunately, I missed the profit.😢😢
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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.