Although gold has steadily rebounded to around 3345, compared with yesterday's gold falling below 3330 again, the rebound in the short term is not strong; overall, gold is still in a weak and volatile pattern, with pressure from the upper side at 3350-3360; and there is technical buying support in the lower 3300-3290 area. It is under the influence of the resistance area and the support area that gold lacks continuity.
So before gold breaks through effectively, I think both the long and short sides of gold have profit potential, so for the current short-term trading, we can temporarily maintain the high-sell-low-dregs trading within the range.
1. Consider shorting gold in batches with 3345-3365 as resistance, TP: 3330-3320-3310;
2. Consider going long gold in batches with 3325-3305 as support, TP: 3345-3355-3365
So before gold breaks through effectively, I think both the long and short sides of gold have profit potential, so for the current short-term trading, we can temporarily maintain the high-sell-low-dregs trading within the range.
1. Consider shorting gold in batches with 3345-3365 as resistance, TP: 3330-3320-3310;
2. Consider going long gold in batches with 3325-3305 as support, TP: 3345-3355-3365
Trade active
As expected, gold retreated to around 3327, and started to rise with support around 3325. Did you follow my trading strategy and go long on gold with 3325-3305 as support? If you followed the long trading strategy, I believe you have made more than 100 pips now.
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.