Gold is currently dominated by bears, but thanks to the support of risk aversion caused by geopolitical conflicts, gold has shown a certain degree of resistance to decline while falling. Therefore, the current market direction is very clear, with weak and volatile downward movement. But under this market situation, we cannot short gold excessively. We can only wait for it to rebound to the pressure level and then short gold, or try to go long on gold with strong support.
At present, gold has touched the 3350 area again, which has a certain support effect. If gold cannot effectively fall below 3350, then gold may still rebound to the 3370-3380 area again; but once gold effectively breaks the support near 3350, gold is expected to continue to fall to the 3340-3330 area.
In terms of short-term trading, I think it is possible to consider starting to try to go long on gold in batches in the 3350-3330 area, TP: 3365-3375
At present, gold has touched the 3350 area again, which has a certain support effect. If gold cannot effectively fall below 3350, then gold may still rebound to the 3370-3380 area again; but once gold effectively breaks the support near 3350, gold is expected to continue to fall to the 3340-3330 area.
In terms of short-term trading, I think it is possible to consider starting to try to go long on gold in batches in the 3350-3330 area, TP: 3365-3375
Trade active
Friends in the channel and I have already seized the opportunity to go long on gold near 3345. Currently, gold has rebounded to around 3355, and we have already made 100pips profit. Let’s see if gold can hit TP: 3365 and make another 100pips profit for us!Trade closed: target reached
Originally, gold had rebounded to a high of 3359, which was very close to TP3360, but gold seemed to like playing jokes on us and was slow to hit TP. In order to avoid gold consuming too much upward momentum near this area, it caused gold to continue to retreat. So in order to lock in profits in time and avoid the risk of profit taking caused by retreat, I have notified all VIP members to close orders near 3356.Although the profit is not much, I have earned 100pips. If gold can continue to rebound, I will still look for a suitable opportunity to short gold after the rebound shows signs of stagflation!
The Premium privilege of my account will end on June 26, and it will stop updating here from tomorrow; the latest strategies and signals will continue to be shared in the Telegram group: t.me/Steffen_S68
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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.
The Premium privilege of my account will end on June 26, and it will stop updating here from tomorrow; the latest strategies and signals will continue to be shared in the Telegram group: t.me/Steffen_S68
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.