Gold will point its sword at the 2310 position area, short gold!
Updated
Gold continued to fall after hitting an intraday high near 2372, with the lowest hitting near 2345. So far, although gold still has a partial rebound, it is difficult to continue its strength. Judging from the current market reaction, gold did not rise as strongly as before due to the surge in risk aversion over the weekend, but showed an inability to rebound. Then the short-term bulls may come to an end, and the short-term will be controlled by short sellers!
https://www.tradingview.com/x/IYal1maA/
At present, all short-term technical resistance is concentrated around the 2365 position, so the trading plan I shared today is also based on shorting gold around the 2365 position. Although the short-term level of gold currently finds support in the 2345-2340 area, we need to focus on the 2310 and 2270 positions below. Why focus on these two positions in particular? The reason these locations exist is simple. Because the vicinity of 2310 serves as a platform for the subsequent rise of the non-agricultural market. If it falls below this point, it will return to 2270. At least the probability is very high. Secondly, the 2270 position is the low point where the non-agricultural market falls first. Once the 2270 position is broken below, Then the short sellers will completely control the market, and the space below will be completely opened!
Therefore, in the next trading, I will still focus on shorting on rallies, and focus on the resistance in the 2365-2370 area above. I will share detailed trading ideas and trading signals every day to help everyone grasp the rhythm of market trading. If you are currently losing money, I am confident that I can help you turn losses into profits in a short period of time; if you are currently making profits, I am more capable of helping you increase profits. If you want to seize more trading opportunities and profits, you can follow the channel at the bottom of the article to get detailed trading signals and trading strategies in the first time.
https://www.tradingview.com/x/IYal1maA/
At present, all short-term technical resistance is concentrated around the 2365 position, so the trading plan I shared today is also based on shorting gold around the 2365 position. Although the short-term level of gold currently finds support in the 2345-2340 area, we need to focus on the 2310 and 2270 positions below. Why focus on these two positions in particular? The reason these locations exist is simple. Because the vicinity of 2310 serves as a platform for the subsequent rise of the non-agricultural market. If it falls below this point, it will return to 2270. At least the probability is very high. Secondly, the 2270 position is the low point where the non-agricultural market falls first. Once the 2270 position is broken below, Then the short sellers will completely control the market, and the space below will be completely opened!
Therefore, in the next trading, I will still focus on shorting on rallies, and focus on the resistance in the 2365-2370 area above. I will share detailed trading ideas and trading signals every day to help everyone grasp the rhythm of market trading. If you are currently losing money, I am confident that I can help you turn losses into profits in a short period of time; if you are currently making profits, I am more capable of helping you increase profits. If you want to seize more trading opportunities and profits, you can follow the channel at the bottom of the article to get detailed trading signals and trading strategies in the first time.
Trade active
Monthly U.S. retail sales data for March showed negative news for gold, which fell by $6 to around 2,351. At present, gold has rebounded in the short term, but overall the volatility is very weak. I currently hold a short position in gold and set the TP at 2349. The TP has not been hit yet, and I will still wait patiently.Trade active
We can start shorting gold in small batches above 2360Trade active
At present, gold has fallen back to around 2354 again, and we have now made a good profit.Trade active
Gold has currently dropped to the lowest position near 2343, and has hit the TP I set: 2349Trade active
At present, gold is rebounding after falling. I will look for suitable opportunities to short gold again.
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.