Gold currently lacks sustained bullish momentum. The monthly chart has formed four consecutive upper shadows, indicating significant market pressure at high levels. Bulls are hesitant to take risks and lack the appetite for aggressive action, leading to a typical volatile pattern of rapid rises and equally rapid declines in gold prices. Yesterday's price action further confirmed this pattern. Although gold prices briefly reached a new high after bottoming out and rebounding, they were unable to consolidate above that level and subsequently retreated rapidly. Currently, the 3380-3390 area has become a key short-term resistance level, but repeated attempts to retest it have led to heavy selling pressure. Meanwhile, the 3370 area, a trading-intensive zone, poses significant downside risks for gold if it breaks below it, potentially extending the range to 3355-3340. Technically, resistance is concentrated in the 3380-3390 area, while support lies at 3355-3340. Short-term volatility is largely locked within this range. We recommend maintaining a volatile strategy of buying high and selling low.
Regarding trading strategies, we recommend placing short positions in batches within the 3375-3390 area, targeting 3360-3345. Pay attention to position control and stop-loss settings during this process. If the price rebounds to the support area and stabilizes, consider short-term long positions to flexibly respond to the intraday rhythm.
Regarding trading strategies, we recommend placing short positions in batches within the 3375-3390 area, targeting 3360-3345. Pay attention to position control and stop-loss settings during this process. If the price rebounds to the support area and stabilizes, consider short-term long positions to flexibly respond to the intraday rhythm.
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The recent market volatility, with frequent shifts between bulls and bears, has caught many investors off guard and unsure where to begin. They often find themselves in a situation where stocks plummet as soon as they buy, then rise as soon as they sell, and this cycle repeats, leading to relentless losses. This is a common experience for many novice traders. I want to emphasize the importance of precise market control and adherence to your trading logic. Of course, this may seem like empty talk to some new traders, as they're new to the market and lack a rigorous trading plan. They often chase rising and falling prices, ultimately leading to significant losses. Want to double your profits if you're unsure when to enter the market? With persistence, and without complex strategies, you can achieve weekly profits of 100-400% or more.Trade closed: target reached
The value of investing lies not in profit margins but in minimizing risk. Every trade carries risk. Control your greed when you're right and manage losses when you're wrong. An investor without risk management awareness will ultimately fail. There's no infallible trading strategy, but a trader who doesn't set stop-loss orders will never recover from a single mistake. Profits are built upon accumulation, and trading is a comprehensive system. If your success rate exceeds 50%, all accumulated losses are eliminated. Those who don't consider the overall situation are incapable of focusing on specific areas. Therefore, as a trader, we need to develop a comprehensive and systematic trading plan, rather than focusing on the gains and losses of individual markets. Most losses come from single, gamble-like trades, which demonstrates that trading is a form of gambling. The key to trading lies in distinguishing this from gambling and controlling our emotions. When facing the market, our only recourse is rationality.
I treat every partner with my best efforts. I do not promise huge profits, but only pursue replicable and stable profits. Many people are already on this path, and you can too.Free witness telegram group t.me/TP_Daniel1
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.
I treat every partner with my best efforts. I do not promise huge profits, but only pursue replicable and stable profits. Many people are already on this path, and you can too.Free witness telegram group t.me/TP_Daniel1
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.