Technical aspect:
Gold has just retreated to around 3217 and then rebounded again. It has now rebounded to around 3235. Although the rebound strength is a little weak, it has even hovered around 3235 for a long time. But structurally, gold did not destroy the rising structure during the decline, and the strength of structural support was strengthened after the effective retracement support. After being recognized and accepted by the market, gold will continue to rise with structural support. Once gold breaks through the short-term resistance area of 3250-3260, it will continue to rise to 3280-3290, or even around 3320.
Trading strategy:
Before the short-term rising structure is destroyed, we can still continue to try to go long on gold in the 3325-3315 area, TP: 3240-3250
Gold has just retreated to around 3217 and then rebounded again. It has now rebounded to around 3235. Although the rebound strength is a little weak, it has even hovered around 3235 for a long time. But structurally, gold did not destroy the rising structure during the decline, and the strength of structural support was strengthened after the effective retracement support. After being recognized and accepted by the market, gold will continue to rise with structural support. Once gold breaks through the short-term resistance area of 3250-3260, it will continue to rise to 3280-3290, or even around 3320.
Trading strategy:
Before the short-term rising structure is destroyed, we can still continue to try to go long on gold in the 3325-3315 area, TP: 3240-3250
Trade active
After gold touched 3225 for the second time during the decline, it rebounded again. The shape structure still maintains an oscillating upward structure. The short-term upward structure has not been destroyed. Gold still has the potential to extend upward. Let us look forward to gold continuing to rebound.Trade closed: target reached
Gold is currently fluctuating in a narrow range around 3233, and the bullish momentum is slightly weak, so I decided to manually close the long position near 3233, first locking in profits. Because the TP I set was 3245, I did not close the position in time when gold rebounded to around 3239 just now. Now I close the position to lock in profits. Although the profit is relatively small, profit is still profit!Bros, did you follow me to buy gold? Although the profit is not much, we still easily made a profit of 130pips in short-term trading, which is still a good result for short-term trading. Let us look forward to the next trading opportunity!
Traders who do not aim at profit are not qualified traders. Maintain a trading win rate of more than 85% and pursue the annual profit target: more than $600K! Witness Free Telegram Group: t.me/Steffen_S68
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.
Traders who do not aim at profit are not qualified traders. Maintain a trading win rate of more than 85% and pursue the annual profit target: more than $600K! Witness Free Telegram Group: t.me/Steffen_S68
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.