Technical aspect:
Gold is currently fluctuating in a narrow range around 3310, and the short-term direction is not clear. However, the rebound potential is relatively weak, but for the London market, gold's willingness to retreat is not strong; however, from a technical perspective, the current gold structure is still biased towards bulls, and gold still has the potential to continue to rebound to the area around 3330, or even the area around 3350;
However, after the rise of gold stagnates, we still cannot aggressively chase gold in trading, one is to prevent technical retracement after the sharp rise of gold; the other is to prevent the retracement of gold in order to grab liquidity after the rise of gold stagnates. In the short term, the support area we must pay attention to is in the 3285-3275 area, followed by the 3260-3250 area. If gold cannot break through the 3320-3330 area in the short term, gold may still continue to test the support area.
Trading strategy:
1. If gold still cannot effectively break through the area around 3320 in the short term, you can consider trying to short gold in small quantities around 3310-3320; TP: 3280-3270, set up protection to prevent gold from continuing to rise to 3330 or even 3350;
2. Consider going long on gold when gold retreats to the 3285-3280 area, set up protection to prevent gold from continuing to retreat to the 3260 area.
Gold is currently fluctuating in a narrow range around 3310, and the short-term direction is not clear. However, the rebound potential is relatively weak, but for the London market, gold's willingness to retreat is not strong; however, from a technical perspective, the current gold structure is still biased towards bulls, and gold still has the potential to continue to rebound to the area around 3330, or even the area around 3350;
However, after the rise of gold stagnates, we still cannot aggressively chase gold in trading, one is to prevent technical retracement after the sharp rise of gold; the other is to prevent the retracement of gold in order to grab liquidity after the rise of gold stagnates. In the short term, the support area we must pay attention to is in the 3285-3275 area, followed by the 3260-3250 area. If gold cannot break through the 3320-3330 area in the short term, gold may still continue to test the support area.
Trading strategy:
1. If gold still cannot effectively break through the area around 3320 in the short term, you can consider trying to short gold in small quantities around 3310-3320; TP: 3280-3270, set up protection to prevent gold from continuing to rise to 3330 or even 3350;
2. Consider going long on gold when gold retreats to the 3285-3280 area, set up protection to prevent gold from continuing to retreat to the 3260 area.
Trade active
Gold only fell back to around 3291, and did not fall back to the target area of 3285-3280, so I did not go long on gold; however, gold rebounded to the 3310-3320 area as expected, and the bullish momentum slowed down again. I have shorted gold as planned. Have you shorted gold?
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.
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.